GE net profit rises, helped by jet engine, oil equipment sales

A mechanic works to hang a gearbox on a CF6-80C2 jet engine at General Electric's GE Aviation factory in Cincinnati, Ohio.
Luke Sharrett | Bloomberg | Getty Images

General Electric posted a 13 percent rise in quarterly net income on Friday, helped by increases in sales of its jet engines and oil and gas equipment.

The U.S. conglomerate said it was targeting the initial public offering of its North American retail finance business for the end of the month, in line with its previous plans to exit the business as the company slims down GE Capital.

Read MoreGE in talks to sell appliances business: Report

Second-quarter net income rose to $3.55 billion, or 35 cents per share, from $3.13 billion, or 30 cents per share, a year earlier.

What GE's earnings tell investors

Excluding items, operating earnings of 39 cents a share matched the average estimate of analysts, according to Thomson Reuters I/B/E/S.

Revenue rose 3.4 percent to $36.23 billion, slightly below the $36.3 billion expected by analysts.

GE last month prevailed in a two-month battle to acquire the power assets of France's Alstom for $16.9 billion, fending off initial French government resistance and a bid from rival industrial giants.

Read MoreGE's Immelt: Alstom deal will increase earnings

GE said Friday it expects the deal to close in 2015 and add 6 cents to 9 cents per share to earnings in 2016. Analysts expect GE to earn $1.97 per share in 2016.

After the announcement, the company's shares were higher in pre-market trading. (Click here for the latest quote.)

By Reuters