General Electric reports 2nd-quarter loss of $1.36 billion

IndustriesAssociated Press

General Electric Co. (GE) on Friday reported a second-quarter loss of $1.36 billion, after reporting a profit in the same period a year earlier.

On a per-share basis, the Fairfield, Connecticut-based company said it had a loss of 13 cents. Earnings, adjusted to account for discontinued operations and non-recurring costs, were 31 cents per share.

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The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 31 cents per share.

The industrial conglomerate posted revenue of $32.75 billion in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $28.83 billion.

GE shares have risen 7 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 3 percent. The stock has increased roughly 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GE at http://www.zacks.com/ap/GE

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Keywords: General Electric, Earnings Report, Priority Earnings