GE Sees First Profit Jump Since Financial Crisis

Second quarter came in at $3.3 billion

General Electric said on July 16 that its second quarter profit rose by a higher-than-expected 16% to $3.3 billion despite falling revenue.

It was the company's first profit jump since the financial crisis peaked in 2008.

GE, which makes aircraft engines, energy equipment and owns the NBC Universal media entertainment group, said revenue however slipped 4% from a year ago to $34.7 billion.

GE chairman Jeff Immelt said he was satisfied with the "solid results across the board."

"GE's economic environment continues to improve," he said, citing growth in orders, margins and earnings amid other encouraging signs in the quarter.

The company's earnings per share rose to 30 cents, higher than most analysts' expectations of 27 cents.

Copyright Agence France-Presse, 2010

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