BUSINESS

General Electric Earnings 1Q 2012: Exiting Irish Mortgage Business Adds To 11.6 Percent Profit Decline

04/20/2012 06:45 am 06:45:00 | Updated Jun 20, 2012

April 20 (Reuters) - General Electric Co posted an 11.6 percent decline in quarterly profit, weighed down by a charge for the company's exit of its Irish mortgage business, despite earnings growth across most of its businesses.

The largest U.S. conglomerate on Friday reported net income of $3.03 billion, or 29 cents per share, compared with $3.43 billion, or 31 cents per share, a year earlier. The results include a $200 million charge for the Irish mortgage exit.

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