General Electric revenues for Q2 beat analysts’ estimates
Profit from continuing operations climbed 18% to $3.73 billion (€2.59bn), or 34 cents a share, from $3.15bn or 29 cents, excluding pension costs, Fairfield, Connecticut-based GE said. That exceeded the 33 cent average of 13 analysts’ estimates compiled by Bloomberg.
Chief executive, Jeffrey Immelt has said losses have peaked at GE Capital, and the unit is writing more profitable loans. The gains helped offset narrower profit margins at GE Energy. The company’s total backlog, a measure of future industrial growth, rose 6.8% to a record $189bn.
