General Electric's net profit rises 0.9% in Q2

SAO PAULO-the net income of General Electric (GE) attributable to the company, which serves as the basis for the calculation of the payment of dividends, rose 0.9% in the second quarter, as compared to the same period in 2012, to $ 3.13 billion. The gain adjusted per share of $ 0.36, exceeded the projection of $ 0.35 consensus compiled by Factset.
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Revenue totaled $ 35,12 billion in the three months to June 30, representing a decline of 3.5% over a year earlier. But the company reduced selling costs and expenses in 2.5%, to $ 31.39 billion.
The Chief Executive, Jeffrey Immelt, has been trying to reduce the company's dependence on its financial arm in recent years, while improving the performance of the industrial business, which includes oil and gas infrastructure and aviation. On Friday, he said that the American company raised profit in six of seven of its industrial business segments and reduced structural costs in the quarter.
Sales in the industrial business dropped 0.8%, to $ 25,17 billion from April to June, but net income rose 2.4%. The net revenues in the financial arm GE Capital fell 3.3 percent to $ 10.98 billion, while net income decreased by 9.4%.
"We work in a business environment which has improved slightly compared to the first quarter," said Immelt. According to the Executive, emerging markets remain resilient and in the United States there was a strong increase in orders in the quarter. Europe is now stabilizing, but still challenging.
In the first six months of the year, the Group recorded net revenue fall of 1.9%, to $ 70,13 billion, while net income grew 8.5%, reaching US $ 6.66 billion.