GE announced today second-quarter 2012 Operating Earnings of $4.0 billion, up 7% from the second-quarter of 2011. GAAP earnings from continuing operations (attributable to GE) were $3.7 billion, up 2%. Revenues were $36.5 billion for the quarter, up 2%. Industrial segment revenue grew by 9%, with organic growth of 10%. The strength of GE’s Industrial portfolio was underscored by strong segment profit increases in Energy, Oil & Gas and Transportation.
 
According to the press release, the company is performing well and is on track to deliver double-digit earnings growth in 2012 for both Industrial and GE Capital segments. GE Capital earned $2.1 billion in the first quarter of 2012, up 31% versus Q1 2011.

“Today’s results demonstrate that we are executing on our growth strategy in the midst of a still volatile global economy,” said GE Chairman and CEO Jeff Immelt. “GE Capital’s strong operating performance and capital position allowed it to return a $3 billion dividend to the parent, and our Industrial segments delivered another quarter of double-digit organic revenue growth. Our strategy to invest in growth markets is paying off, as we achieved orders expansion in growth markets of 14% and revenue growth of 17%. We ended the quarter with a record backlog.”

GE Capital (GECC) second quarter revenues of $11.5 billion decreased 8% from last year, driven by lower assets in-line with plan. GECC’s first six months revenues declined 10% to $22.9 billion versus $25.5 billion in the first six months of 2011.
 
The following highlights were extracted from the press release:

GE Capital (GECC) Revenues and Profit by Business Line – figures rounded):

• Commercial Lending and Leasing - revenues declined 7% to $8.6 billion for the first six months versus $9.3 billion for the same period in 2011. Profit increased 4% to $1.3 billion during the first six months.
• Energy Financial Services – revenues declined 4% to $685 million for the first six months versus $710 million for the same period in 2011. Profit declined 23% to $193 million during the first six months.
• GE Capital Aviation Services (GECAS) – revenues were flat at $2.6 billion for the first six months of 2011. Profit was also flat at $626 million for the first six months.

Read the full General Electric Company press release.