GE Profit Matches Estimates as Synchrony IPO Set for July

General Electric Co. delivered second-quarter earnings that matched analysts’ estimates, buoyed by rising sales in units making jet engines and gas turbines, as the company heads toward an initial public offering for the Synchrony Financial unit this month.

GE begins meeting with investors today to pitch them on Synchrony, the provider of credit cards to retailers such as Wal-Mart Stores Inc., and projects raising about $3.1 billion in the IPO. In selling 15 percent of the consumer-lending unit, Chief Executive Officer Jeffrey Immelt will take a step in his plan to pare GE’s financial arm.