GE profits up as most industrial segments improve
Saturday, 19 July 2014
NEW YORK, July 18 (AFP): General Electric Friday reported higher second-quarter earnings following cost-cutting efforts as it announced a late-July stock listing for its North American retail finance arm.
Earnings for GE, considered a proxy for US industrials, came in at $3.5 billion, up 13.2 per cent from the year-ago period.
GE notched higher profits in six of its seven industrial segments, including the two largest areas, power and water and aviation. However, revenues increased in only three of the segments.