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GE Lowers Profit Goals Amid Losses in Power Business

General Electric said it remains on track to split into three companies, despite losses in its wind turbine business. Photo: sebastien salom-gomis/Agence France-Presse/Getty Images

General Electric Co. reported profits fell in its latest quarter and outlined plans to cut costs in its renewable-energy business where troubles offset strong gains in the company’s aerospace division.

GE said it remains on track to break itself apart into three companies, starting with a spinoff of its healthcare business in January, even as losses in its power business weighed down its overall results and prompted the company to cut its profit targets for the year.

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