GE profit up 10% at $5.4 bn

US conglomerate General Electric said Friday that its second-quarter net profit rose 10 per cent to $5.4 billion as its consumer finance and infrastructure arms offset losses from subprime mortgages.

The profit from continuing operations amounted to 52 cents per share, in line with Wall Street forecasts.

The diversified conglomerate that produces jet engines, locomotives, water treatment plants and medical equipment, has a major finance arm and owns the media-entertainment giant NBC Universal, said revenue for the quarter rose 12 per cent to $42.3 billion.

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- Posted: 2007-07-13 10:32:59

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