Dec. 11 (Bloomberg) -- General Electric Co., providing a forecast that trailed analysts' estimates, said profit will rise at least 10 percent next year as growth slows at the consumer finance and health-care divisions. GE also will consider selling its U.S. credit-card business.

Earnings per share may be at least $2.42 and revenue may climb 10 percent to 15 percent to $195 billion at the Fairfield, Connecticut-based company, Chief Executive Officer Jeffrey Immelt told analysts in New York today. The profit forecast was less than the lowest estimate in a Bloomberg survey and the 13 percent increase projected for 2007.

``What I really want to give investors is a sense that 10 percent is in the bag,'' Immelt said. ``I'm not going to put a happy face on the slowing U.S. consumer. Our businesses that touch housing in the U.S. are going to be challenged.''

GE, the world's third-biggest company by market value, said it would consider a sale or partnership for some financial services such as its U.S. private-label credit-card unit. The company also raised the quarterly dividend 11 percent to 31 cents and announced a $15 billion share buyback over three years.

A buyback may help support GE stock, which has dropped 11 percent in the two months since profit at GE Infrastructure, the largest unit, missed Immelt's third-quarter prediction.

Analysts' Forecasts

GE declined 38 cents, or 1 percent, to $37.03 at 4 p.m. in New York Stock Exchange composite trading and the shares have dropped 0.5 percent so far this year.

``Jeffrey Immelt has actually more than doubled the earnings in the few years he has been CEO and the stock has been essentially flat,'' Michael Holland, chairman of Holland & Co. in New York, said in an interview. The firm manages about $4 billion and owns shares in GE.

Immelt didn't give an upper range for profit in 2008. The forecast was less than the lowest estimate of $2.44 a share in a Bloomberg survey of 16 analysts, whose average was $2.49. Though it fell below estimates, the increase is better than the 5 percent to 6 percent in the S&P index forecast for next year by Citigroup analyst Jeffrey Sprague, according to a Nov. 30 note he sent to clients. He rates GE a ``buy.''

New Plants, Roads

GE also repeated its 67-cent to 69-cent forecast for this year's fourth quarter, in line with the analysts' average of 68 cents.

GE said this year profit will be $2.19 to $2.21 a share, about a 13 percent increase from 2006 and in line with estimates.

Most of next year's 10 percent increase, about 7 percentage points, will come from GE Infrastructure as companies build power plants, roads, airports and cities, Immelt said. The company is targeting overseas markets for more than half of its revenue, led by GE Infrastructure.

The rest will be hampered as financial markets slow from this year's subprime mortgage lending market collapse and new Medicare regulations continue to cut growth at the health-care unit. A writer's strike and lower ratings at entertainment unit NBC Universal may also hurt profit growth next year, and a higher tax rate will cut about 8 cents a share from profit.

Credit-Card Unit

Immelt, 51 and CEO since 2001, said he's targeting $30 billion to $50 billion in financial assets for sale or partnerships that may produce a gain of about $1 billion in 2008.

GE may sell or seek a partner for its private-label credit- card unit, which operates branded cards for companies such as Wal-Mart Stores Inc. and J.C. Penney Co., he said. The unit is part of GE Money, the consumer-finance division where Immelt said profit will be little changed next year because there were gains in this year's first quarter.

GE Money is forecast to provide $4.3 billion in total profit as a unit this year, while the credit card business adds about $700 million, or 6 cents a share. U.S. consumers have been hurt by a slump in housing prices and a squeeze on credit.

The Federal Reserve today lowered its benchmark interest rate by a quarter point to 4.25 percent and signaled that officials are open to further cuts if needed to help the economy.

No `Dramatic Moves'

The chief executive doesn't foresee any large acquisitions in the non-financial areas, he said. ``If we don't see industrial deals we like, you'll see more buyback,'' Immelt said.

Selling large chunks of the company might not spur the stock in the way some investors might think, Immelt said.

``If I thought taking more dramatic moves would make the stock suddenly go up, we'd discuss it with the board and go through it,'' Immelt told investors. ``I really believe what we're doing with GE money is a good step.''

Analysts also trimmed 2008 profit estimates since November in part because the company this year lowered its forecast for GE Healthcare, the world's biggest maker of medical imaging equipment such as MRIs and CT-scanners.

Immelt today repeated a forecast for 10 percent profit growth in 2008 for GE Healthcare, less than the unit has made in each of the past three years, on a 5 percent to 7 percent sales increase.

General Electric is the world's biggest provider of jet engines, power-plant turbines, medical imaging equipment, locomotives, private-label credit cards and aircraft leasing. Other divisions include water treatment, appliances, lighting and real estate.

To contact the reporters on this story: Rachel Layne in Boston at rlayne@bloomberg.net

Last Updated: December 11, 2007 20:33 EST