General Electric turns $3.7B quarterly profit

General Electric Co. saw its profits rise by double digits in the second quarter, even as revenue fell by 4 percent mostly as a result of its sale of a majority of NBC Universal to Comcast Corp. earlier this year.

The company reported an 18 percent jump in operating earnings to $3.7 billion. Operating earnings per share were 34 cents, up 17 percent compared to the same period in 2010. However, revenue was $35.6 billion for the quarter, down 4 percent from a year ago,

Excluding the impact of the NBC Universal transaction, revenue was up 7 percent to $36 billion.

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- Posted: 2011-07-22 12:10:23

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