GE ekes past expectations as transportation revenue slides

General Electric reported quarterly earnings that beat analysts' expectations by a penny a share on Friday.

After the earnings announcement, the company's shares rose in pre-market trading. (Click here to get the latest quotes for GE.)

The company posted first-quarter earnings of 33 per share, down from 39 cents a share in the year-earlier period.

Simon Dawson | Bloomberg | Getty Images

Revenue decreased to $34.2 billion from $35.01 billion a year ago.

Analysts had expected the company to report earnings of 32 cents a share on $34.36 billion in revenue, according to a consensus estimate from Thomson Reuters.

Last month, federal investigators opened two investigations into the company's credit card business, just as General Electric is attempting to spin it off through an initial public offering. The Consumer Financial Protection Bureau, created under Dodd-Frank, is investigating the credit-card business called Synchrony Financial for possible violations of consumer finance laws.

Some analysts and investors blame finance unit GE Capital, of which Synchrony is a segment, for the hits the company's stock has taken since the 2008 financial crisis. Abandoning finance-as well as some other segments outside GE's core industrial businesses-could help restore profitabilty and boost share price, according to sources quoted by Reuters.

- By CNBC

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