General Electric (GE) Reports In-Line Q3; Maintains FY Guidance and Dividend

October 10, 2008 7:06 AM EDT

General Electric (NYSE: GE) reports Q3 earnings of $0.45 per share, in-line with estimates. Revenues rose 11% to $47.23 billion, versus the consensus of $47.34 billion.

GE said it will maintain dividend at $1.24 per share through 2009 .

CEO Jeff Immelt said, "We are on track to meet our September 25 revised guidance for the full year, adjusted for dilution."

Immelt also said, "We have taken a number of steps to protect investors from the downside risk in financial services, and we have ways to mitigate potential disruptions in infrastructure and media markets, but the environment remains challenging. We have big backlogs, great products, stable service revenue, strong operating discipline, an unmatched global position and multiple revenue streams. As a result, the Company is well positioned to perform in a very difficult environment, and our Board has approved our plan to sustain the GE dividend through 2009."

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