Earnings

GE earnings beats estimates, helped by aviation, oil and gas

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General Electric posted higher quarterly net income on Friday, helped by sales of its jet engines and oil and gas equipment.

The U.S. conglomerate's third-quarter net income rose to $3.54 billion, or 35 cents per share, from $3.19 billion, or 31 cents per share, a year earlier.

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Earnings excluding items came in at 38 cents a share, compared to 36 cents a share in the year-earlier period.

Revenue for the quarter totaled $36.2 billion, against the comparable year-ago figure of $35.73 billion.

Analysts had expected GE to report earnings excluding items of about 37 cents a share on $36.79 billion in revenue, according to a consensus estimate from Thomson Reuters.

The General Electric logo on a GE Aviation CF6-80C jet engine as it hangs from the wing.
Balint Porneczi | Bloomberg | Getty Images

Last month, GE agreed to sell its appliances unit to Electrolux for $3.3 billion as it takes steps to reshape its portfolio. General Electric stock has fallen about 13 percent year-to-date to close at $24.25 on Thursday.

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—Reuters contributed to this report.