ge revenue up 11 percent, page-2

WASHINGTON (MarketWatch) -- General Electric Co. (GE:General Electric Company
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Last: 27.64+0.45+1.66%

4:01pm 07/10/2008


GE 27.64, +0.45, +1.7%) reported a second-quarter net profit of $5.07 billion, or 51 cents a share, off from $5.38 billion, or 52 cents, earned in the same period during 2007. Earnings from continuing operations were $5.39 billion, down from $5.61 billion, but came in flat at 54 cents a share as a result of 3% fewer average equivalent shares outstanding. Quarterly revenue generated by the Fairfield, Conn.-based blue chip jumped 11%, reaching $46.89 billion from the prior year's $42.38 billion, and included organic revenue growth of 5%. The consensus profit forecast among 14 analysts surveyed by FactSet Research had been for the company to post a profit of 54 cents a share. GE Chairman and CEO Jeff Immelt called GE's results "solid."