General Electric Co. reported Friday its fourth-quarter profit fell 46 percent as the huge industrial products, financial services and media conglomerate absorbed nearly $3 billion in losses as it sold most of its insurance business. The results matched Wall Street’s expectations, and GE raised the lower end of its earnings guidance for the year.
The company said net income was $3.06 billion (29 cents per share) for the three months ended Dec. 31, compared with $5.6 billion (53 cents) a year ago. Total revenue climbed 3 percent to $40.7 billion.
