The main focus of General Electric’s Q2 financial report and Wall Street conference call was on improvement in the GE Capital segment, but CEO Jeff Immelt did note that NBC Universal “turned in good revenue and earnings growth.” GE has a deal pending to sell a controlling stake in NBCU to Comcast.
In fact, NBCU led the company in revenue growth in Q2, up 5% to $3.75 billion. Home and Business Solutions was the only other unit to post revenue growth, up 4%. In all, Q2 revenues for GE were down 4% to $37.44 billion.
Segment profits, however, were a different story. GE Capital came roaring back in the quarter, with profits up 93% to $830 million. By comparison, the double-digit profit improvement by NBCU looked more modest, up 13% to $607 million. For all of GE, segment profits rose 8% to $5.04 billion.
