GE 2Q profit up 21 percent, financial arm improves

AP News
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Posted: Jul 22, 2011 2:31 PM
GE 2Q profit up 21 percent, financial arm improves

LENDING REBOUND: General Electric Co.'s financing arm continues to boost profits this year, rebounding from a real estate meltdown that forced the company to write down the value of its assets.

STRONG SALES OVERSEAS: GE's energy and technology businesses posted lower profits in the second quarter, but the company noted that sales continue to surge overseas. International sales grew 23 percent in the quarter to $13.4 billion in the quarter.

WAIT TILL NEXT YEAR: While some of its industrial businesses struggled in the quarter, GE says it expects orders for wind turbines and new health care products will help grow industrial revenue next year.