News Summary: GE 1Q earnings rise; Europe drags

News Summary: GE earnings rise 16 pct on sale of NBC but industrial results were weak

Associated Press

EARNINGS BRIGHTEN: General Electric earnings rose in the first quarter, helped by the sale of NBC Universal and increased profit from selling aircraft engines and transportation equipment.

EUROPE DIMS: Results of the company's core industrial operations were weak, however, dragged down by deteriorating economic conditions in Europe. Revenue from that industrial operations fell 6 percent and profit fell 11 percent.

SECOND HALF HOPES: GE CEO Jeff Immelt said he expects the company's performance to rebound in the second half. With aggressive cost cutting, he said the company could still hit its annual performance targets.

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