GE’s Q2 Earnings Exceed Consensus

General Electric Company GE has reported better-than-expected Q2 earnings, while its revenue fell short of the Street view. The Fairfield, Connecticut-based company has reported a 15% year-over-year rise in its earnings from continuing operations to $3.3 billion, or $0.30 per share. The company’s revenue fell 4% to $37.4 billion, due to lower GE Capital assets and industrial dispositions and lower-than-expected equipment sales. The analysts expected the company to post its EPS at $0.27 on $38.4 billion of revenue. GE has generated $6.3 billion of total cash from operating activities of GE Industrial in the first six months of 2010, down 10% from the previous year period. GE Chairman and CEO Jeff Immelt mentioned, “GE’s portfolio generated solid results across the board,” He further added, “Our Energy and Technology Infrastructure businesses performed as expected, Home & Business Solutions and NBCU turned in good revenue and earnings growth, and GE Capital delivered 93% net income growth as losses have peaked and earnings are rebounding.” GE’s shares gained 2.30% to $15.60 in pre-market trading. Read more from Benzinga's Markets.