GE posts small gain in 2Q profit, sees US pickup

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Associated Press

Posted on July 19, 2013 at 4:00 AM

Updated Friday, Jul 19 at 6:02 AM

General Electric is reporting a slight gain in net income in the second quarter and says U.S. operations are picking up steam.

GE said Friday that it earned $3.13 billion on revenue of $35.12 billion in the quarter, up from $3.11 billion on revenue of $36.50 billion last year. On a per share basis, the company earned 30 cents, up from 29 cents last year.

Adjusted to reflect earnings from continuing operations, GE earned 36 cents per share. That's 2 cents less than adjusted earnings last year, but one cent better than analysts polled by FactSet had expected.

CEO Jeff Immelt said emerging markets remained strong, orders in the U.S. showed "strong growth" and Europe has stabilized. The company's orders for new business rose to a record $223 billion.

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