General Electric keeps rolling as profits rise 4.4 percent

General Electric on Friday reported a 4.4 percent rise in quarterly profits as strong results in the conglomerate's industrial and finance units offset weakness at its media-entertainment arm.
Second-quarter earnings for the diversified US group rose to 4.9 billion dollars from 4.6 billion in the same period a year ago. That translated to 47 cents per share, in line with Wall Street estimates. Excluding discontinued operations, the profit was up 11 percent, GE said. Revenues at the firm, sometimes seen as a proxy for the US economy, grew nine percent from a year ago to 39.9 billion dollars.
The diversified conglomerate that produces jet engines, locomotives, water treatment plants, medical devices and owns the media-entertainment giant NBC Universal projected an increase in net earnings to 12 to 16 percent for the third quarter. "We continue to execute our strategy," said GE chairman and chief executive Jeff Immelt.