GE profits rise but revenue forecast trimmed

General Electric reported a 6.7 percent rise in quarterly profits but trimmed its revenue growth target and net income forecast for the year.

The latter was prompted by slow economic growth, particularly in the oil and gas business.

GE cut its full-year revenue forecast to 2 percent growth.

For the quarter, net income grew to $2.1 billion from $1.97 billion a year earlier.

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