GE‘s stock gains after earnings and revenue beat expectations

General Electric Co.‘s stock rose 0.7% in premarket trade Friday, after the industrial conglomerate reported second-quarter earnings and revenue that beat expectations. Net income fell to $615 million, or 7 cents a share, from $875 million, or 10 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 19 cents, above the FactSet consensus of 18 cents. Revenue rose 3% to $30.10 billion, above the FactSet consensus of $29.40 billion, as better-than-expected power and aviation revenue offset renewable energy‘s miss. "We expect the power market to remain challenging, and we continue our focus on operational improvement," said Chief Executive John Flannery. "We are progressing on our plans to make GE simpler and stronger." The stock has tumbled 21% year to date through Thursday, while the Dow Jones Industrial Average has gained 1.4%.