General Electric posted a 12 percent rise in overall industrial profits on Thursday, as strength in its businesses selling gas turbines, jet engines and oil industry equipment offset weakness in healthcare and transportation.
GE, which is increasingly focusing on its traditional manufacturing businesses over its finance unit, posted an 8 percent increase in industrial revenue, even as overall company revenue fell slightly short of Wall Street's target.
GE shares rose 2 percent to $26.65 in premarket trading, as profit also edged past analyst estimates. (Click here for the latest quote.)
"The big story is the organic revenue growth," said Tim Ghriskey, chief investment officer of Solaris Asset Management, which owns GE shares. "It really shows the return to an industrial emphasis is paying off, and where the company is focusing."