In a show of its manufacturing might, GE posts solid earnings report

In what industry analysts assert is an illustration of the ongoing strength of the U.S. industrial sector, General Electric's latest quarterly earnings report impressed shareholders this week, driving the company's stock up.

According to The New York Times, the U.S.-based industrial products conglomerate reported this week that its earnings were up from the same quarter last year. GE, which manufactures a wide array of products ranging from gas turbines to jet engines, said that growth in international markets continued to contribute to its solid performance.

According to GE, revenue in international markets jumped by 23 percent during its last fiscal quarter. International sales account for 59 percent of GE's industrial business, according to The Times.

"There has been good growth in several of the industrial businesses, and GE Capital continues to recover," Standard and Poor's analyst Richard Tortoriello said.

GE's net income climbed 20 percent to $3.8 billion, which is up from the $3.1 billion it recorded during the same quarter the year prior. The strategic sourcing of its suppliers, along with an emphasis on business cost reductions, has helped GE to emerge from the recession on solid footing.