GE profit up 36%, sales slow; affirms 2017 forecast

General Electric Co. reported a 35.7 percent jump in quarterly profit on Friday, helped by strength in its power and renewable energy businesses, and affirmed its growth and profit forecasts for 2017.

The Boston-based maker of power plants, aircraft engines, locomotives and medical equipment said total revenue fell 2.4 percent to $33.1 billion.

Earnings from continuing operations attributable to GE shareholders rose to $3.48 billion in the fourth quarter ended Dec. 31, from $2.57 billion a year earlier.

Earnings per share from continuing operations rose to 39 cents from 26 cents, the company said.

Adjusted earnings, however, fell 2 percent to 46 cents a share, matching the average of analyst estimates, according to Thomson Reuters I/B/E/S.

GE said in December it expected organic growth of 3 percent to 5 percent this year, figures it affirmed on Friday. GE shares were down 0.7 percent at $31 in premarket trading.