GE Profit Tops Estimates as Industrial Margins Expand
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General Electric Co. benefited from rising sales of jet engines and oilfield equipment last quarter, helping Chief Executive Officer Jeffrey Immelt deliver on his plan to fatten profit margins.
The stock rose the most in the Dow Jones Industrial Average today after GE beat analysts’ earnings estimates. Buoyed by growth in the industrial business, GE reported adjusted profit from continuing operations of 33 cents a share, topping the 32-cent average of 11 estimates compiled by Bloomberg.