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GE Reports Higher Third Quarter Profits - 2002-10-11


General Electric says its third-quarter profits rose 25 percent in line with analysts' expectations.

A G.E. statement says net income rose over $4 billion, or 41 cents per share during the three-month period ending September 30, while sales rose 11 percent to nearly $33 billion.

Company officials say growth was helped by the sale of G.E.'s electronic commerce unit as losses widened in other divisions. G.E. also says it expects to meet its profit forecast for the year, despite tough economic conditions.

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