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

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.

Read MoreGoogle shares fall after earnings miss

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.

General Electric GE
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.

Read MoreCapital One earnings miss Street

Reuters contributed to this report.