General Electric posts 5% lift in industrial profit, raises guidance

General Electric posted a 5% lift in industrial profit for the second quarter, citing strong organic growth.

The conglomerate posted operating profit in its core industrial segment at $4.45bn, off 11% organic growth. Revenues from this sector were $25.9bn for the quarter, off 5% organic growth.

Its overall operating earnings were the second quarter was $2.8bn or $0.28 earnings per share, earnings per share for the industrial business were up 18% at $0.26.

General Electric raised its full year guidance for industrial earnings per share to $1.13–1.20.

Chief executive Jeff Immelt said the environment was still one of slow growth and volatility in growth markets, while the U.S. was gradually improving.

“We continue to execute on our plan to exit GE Capital, with $68 billion in dispositions announced this year, and are on track for our goal of closing $100 billion in 2015,” he said.

Immelt said GE Capital verticals were on track for EPS of $0.15.

Shares in General Electric were up 1.85% in premarket trading at 1243 BST.