(Reuters) - General Electric Co reported a 2.5 percent rise in quarterly profit from continuing operations, just beating Wall Street forecasts, as solid demand in the United States for equipment used in energy production offset the effects of a weakening European economy.
The largest U.S. conglomerate said second-quarter net earnings attributable to common shareholders -- which do account for discontinued operations -- had fallen 15.8 percent to $3.11 billion, or 29 cents per share, from $3.69 billion, or 35 cents per share, a year earlier.
Factoring out one-time items including charges related to its former U.S. subprime mortgage business and a Japanese consumer finance arm, the profit came to 38 cents per share, above the 37 cents analysts on average had expected, according to Thomson Reuters I/B/E/S.
Revenue rose 2.5 percent to $36.5 billion from $35.62 billion, but was shy of the $36.8 billion Wall Street had forecast.
GE shares have risen about 10.8 percent so far this year, outpacing the 5.7 percent rise of the Dow Jones industrial average, of which the stock is the sole remaining original component.
(Reporting By Scott Malone in Boston; Editing by Lisa Von Ahn)
