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

CNBC With Reuters

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.