General Electric Co reported a 16 percent rise in first-quarter earnings on Friday as it sold more equipment for oil and gas drilling and shed its stake in NBC Universal.

The world's biggest maker of jet engines and electric turbines said it had earned $3.53 billion, or 34 cents per share, compared with $3.03 billion, or 29 cents per share, a year earlier.

(Reporting By Ernest Scheyder; Editing by Lisa Von Ahn)