GE Posts Second-Quarter Earnings In-Line With Views

Says infrastructure, industrial businesses performing well.

General Electric Friday said its second-quarter earnings from continuing operations rose by 11%, while revenue grew by 9%, citing in part a strong performance in its infrastructure and industrial businesses.

The conglomerate earned $4.9 billion from continuing operations in the quarter on sales of $39.9 billion. On a per-share basis, GE earned 47 cents a share, matching Wall Street's expectations.

"This is our sixth straight quarter of organic revenue growth that meets our goal of 2-3 times GDP," said GE CEO Jeff Immelt in a press release. "This consistent performance demonstrates the quality of our businesses and the excellence of our execution. We see this string continuing. Total company orders were up 17% for the quarter, showing strong future demand for our products and services. Orders for equipment increased 33%, including a 59% surge in Infrastructure orders, while services orders increased 13%."

GE, seen as a proxy for the broader economy given its size and diversified businesses, also reaffirmed that it expects earnings per share of $1.94 to $2.02 this year, up 13 percent to 17 percent. Analysts expect earnings of $1.99 per share.

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