Profit jumps at conglomerate
Friday, July 14, 2000 | 11:49 a.m.
THE ASSOCIATED PRESS
FAIRFIELD, Conn. -- General Electric Co. said Thursday its second-quarter earnings rose 20 percent, led by strong growth in its power systems, aircraft engines and NBC units.
GE's earnings came to $3.38 billion, or 34 cents per share, up from $2.82 billion, or 28 cents per share, in the same period a year ago.
The results beat Wall Street expectations by 1 cent per share, according to First Call/Thomson Financial.
Revenues increased 20 percent to $32.86 billion, up from $27.41 billion.
The company said all seven of its business segments had strong growth.
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