(Reuters) - General Electric Co reported a better-than-expected quarterly profit as revenue from its power business rose.
Excluding items, the company earned 51 cents per share, beating the average analyst estimate of 46 cents, according to Thomson Reuters I/B/E/S.
Total revenue rose 15 percent to 33.49 billion, helped by a 31 percent rise in revenue from the power business.
During the quarter, the maker of power plants, aircraft engines, locomotives and other industrial equipment shed its designation as a non-bank systemically important financial institution after divesting most of its GE Capital business.
The change freed up about $18 billion in capital, which GE plans to return to shareholders through share buybacks, and it positions GE to take on debt to fund acquisitions and growth.
(Reporting by Alwyn Scott; Editing by Kirti Pandey)
