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Good morning everyone -- General Electric -- higher in premarket trading after the company's second quarter profit.
Beat the estimate the industrial conglomerate reported an adjusted profit.
A 36 cents a share a penny above expectations.
But revenue of 35 point one billion dollars in this -- -- -- CEO Jeff Immelt says quote emerging markets remain resilient.
And in the US we saw strong growth in orders this quarter.
She reported year -- year profit growth in six of seven of its industrial businesses earnings -- the company's financial arm GE capital fell 9%.
In line with planned asset reductions.
Joining us now to help those dig into GE's earnings is Bob secular Dow Jones Newswires joins us on the phone -- let's -- GE capital profit was down.
But that pretty much was what we expected was net.
Well that's right and and they've been downsizing -- -- and you know it's been going a little bit faster than expected.
I think people that you know generally are pleased that.
You be reducing the reliance capital that should be seen as this process I think they'll still be a lot of interest on the call about their.
Know what their plans -- effigy capital.
Long term but right now it looks like that's something people probably be you know generally pleased to.
-- -- think about industrial businesses they seem to do pretty well especially on margins.
Right and and that's what I think that's.
Sort of gonna be released to investors that they you know mr.
-- -- you know has been saying that profit margins would grow -- -- businesses.
They didn't in the first quarter they did they did here about half a percentage point.
You know -- that he step by -- forecast.
Which is four zero point 7% margin expansion.
For the full year.
So I think that's something that that and again investors are going to be relieved that that to see that profit growth.
That margin expansion in the special businesses which -- and you know certainly going to be relying on as a picturing Ritchie capital.
And net and have you heard anything that stuck out -- you so far from Jeff Immelt.
Well again I think I think the main thing you know after the first quarter which was is that -- -- -- bit of -- but the disappointment I think you know there was -- he said that Europe was.
He'd be blamed some of the the -- that Europe have been worse than expected.
Here is that Europe has has stabilized so I think that's going to be you know that's definitely -- -- to people.
You know it's -- -- I think give -- said the US was was good it was looking at doing well.
And then in the power -- water division with an industrial that had a typically poor first quarter.
It didn't do.
Great this quarter but however.
It did show some improvement and then he also -- in the back half of the year there should be more improvement.
And that division so I think again -- you know that's going to be interpreted that as a positive.
All right let's Bob -- Dow Jones -- as -- as we appreciate it Bob thanks taking time.
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