GE industrial earnings rise

General Electric Co reported a 9 percent rise in quarterly industrial profit on Friday as its businesses that sell power-generating turbines and jet engines helped offset weak sales in its oil and gas unit.

Fourth-quarter net income rose 61 percent to $5.15 billion, or 51 cents per share, from a year earlier.

Revenue rose 4 percent to $42 billion, just missing Wall Street estimates of $42.16 billion.

GE CEO Jeff Immelt said the conglomerate recognized the risks from low oil prices.