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Cultura

GE profit from continuing ops rises


    BOSTON (Reuters) - General Electric Co reported a 28.8 percent rise in quarterly profit from continuing operations, as lower credit losses at its finance arm offset slack demand for heavy equipment including jet engines and railroad locomotives.

    The largest U.S. conglomerate's profit from continuing operations -- which factors out its pruning of its finance arm -- came to $3.16 billion, or 29 cents a share, up 28.8 percent from $2.54 billion, or 22 cents a share, a year earlier.

    Net income, including $1.1 billion in losses related to GE Capital portfolio restructuring, fell 18 percent.

    Revenue fell 5.1 percent.

    The results marked GE's second consecutive quarter of earnings growth after a nine-quarter streak of declines.

    GE shares have risen about 14 percent so far this year, outpacing the 6 percent rise of the Dow Jones industrial average , of which it is a component.

    (Reporting by Scott Malone; Editing by Derek Caney)