GE’s Profit Rises 14% in First Quarter

General Electric Co., the second-biggest U.S. company by market value, posted a 14% increase in first-quarter profit, matching Wall Street forecasts, and predicted the solid performance will continue for another record year. GE, a conglomerate whose businesses include lightbulbs, jet engines, finance and the NBC broadcast network, said it earned $2.16 billion, or 65 cents a diluted share, in the quarter on strong performances in virtually all its businesses. GE earned $1.89 billion, or 57 cents, a year ago. Revenue was up 6.8% to $24.17 billion. Profit at NBC rose a better-than-expected 12% as it cut costs, but sales fell 6%, partly because the network didn’t broadcast the Super Bowl. Profit climbed at its CNBC and MSNBC cable networks, analysts said. GE Capital’s sales rose 11% and profit jumped 17%, benefiting from acquisitions. On the New York Stock Exchange, shares of Fairfield, Conn.-based GE slipped 63 cents to close at $113.88, which some analysts blamed on slightly disappointing revenue growth.