Let R = Ån³0Rn be a graded Noetherian ring with local base ring R0 and let R+ = Ån>1Rn. Let M and N be finitely generated graded R-modules. In this paper we extend some of the known results about ordinary local cohomology modules HiR+ (M) to generalized local cohomology modules HiR+ (M, N). Indeed, among other things, we prove that certain submodules and factor modules of HiR+ (M, N) are Artinian for some i. Also we obtain some results on the asymptotic behaviour of the n-th graded components HiR+ (M,N)n of HiR+ (M,N) for n ® -¥.