GE profit up
Afp, New York
US conglomerate General Electric said Friday second-quarter net profit rose 10 percent to 5.4 billion dollars 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 for GE, one of the largest companies in the world. 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 percent to 42.3 billion dollars. The company, sometimes seen as a microcosm of the US economy, maintained its outlook for the full-year 2007 of profit growth in the range of 10 to 12 percent, with higher profits in the second half.
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