General Electric Co. said higher profits at...

General Electric Co. said higher profits at its plastics, broadcasting and financial services units boosted earnings 16% to $835 million in the second quarter. “The operating margin rate of 10.5% for the second quarter of 1988--up from 1988’s first-quarter rate of 10.2% and 1987’s second-quarter rate of 9.7%--reflects better cost structures in virtually all businesses,” Chairman John Welch said in a statement. “With these results, GE is well on its way to a second consecutive year of strong double-digit increases in earnings.”