GE 1Q earns down 30 pc, but beats view

FAIRFIELD: General Electric Co says its first-quarter earnings fell 30 percent on continued struggles in its GE Capital lending unit and lower profits in its big industrial divisions.

The results still beat Wall Street expectations and CEO Jeff Immelt says the company sees encouraging economic signs.

GE says that losses are moderating at GE Capital, which have been a big source of GE's recent problems.

The conglomerate says it earned $1.9 billion, or 17 cents per share, in the January-March period. That was down from $2.74 billion, or 26 cents per share, a year ago.

GE is considered an indicator of the well-being of the broader economy. The company makes industrial products ranging from light bulbs to wind turbines, and is a big lender to businesses and consumers