Washington - US conglomerate General Electric (GE) experienced a massive fall in third-quarter earnings as a result of the ongoing financial crisis.

With the weak financial sector, which normally contributes to a large portion of consolidated earnings, GE's net income fell by 22 per cent to 4.31 billion dollars.

Earnings per share fell by 10 per cent to 0.45 dollars, GE said in Fairfield, Connecticut, on Friday.

Its financial services division earned 2 billion dollars, 33 percent less than the third quarter last year. Earnings from other GE divisions such as energy, infrastructure or business media with the broadcaster NBC Universal, however, grew.

The group announced two weeks ago already that its third-quarter earnings would come in lower and reduced its full-year forecast. (dpa)