General Electric, the US based conglomerate, recorded third quarter 2000 earnings of $3.18 billion, a record for the quarter and 20% up on its $2.65 billion earnings in July - September 1999. This was equivalent to 32 cents per share compared with the 27 cents per share achieved a year earlier.
GE Capital, the group’s financial services division which offers a range of factoring products, accounted for just over half of group revenues in the quarter.
Revenue in the third quarter of 2000 was up by 18% year-on-year at $32 billion.
GE Capital, the investment and financial services subsidiary of General Electric, is a significant provider of factoring services both in the United States and elsewhere.
Financial Times
