LONDON (ShareCast) - (ShareCast News) - US conglomerate General Electric reported performance well above analysts' expectations on Friday for their seceond quarter earnings, topping last year's numbers by about 65%.
Despite a general slump in oil and gas profits, the three months ended June were highly successful, as underlying earnings per share hit 51 cents for the US's largest manufacturer.

"The diversity and scale of our portfolio enabled the company to perform well despite a volatile and slow growth economy," said Chief Executive Jeff Imelt.

Mr Immelt said he expected to see more strong growth in the second half of the year, despite revenue from the company's industrial businesses dropping 1%.

GE's division providing equipment and services for the oil and gas industry, built up through acquisitions in the years leading up to the crude crash that began in 2014, reported a 48% drop in its profits to $320mn.

Strong performances from the likes of its jet engine divisions and medical technology made up for that however.

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