Quarterly Results, Profit | featured news

General Electric Co called the end to its two-year slump on Friday, reporting earnings that beat Wall Street forecasts and saying profit should rise through the rest of 2010.

The bank, which is often considered a bellwether, said that it had clawed back to profitability in the first quarter, after two consecutive periods of losses.

JPMorgan Chase reported a $3.3 billion profit for the first quarter Wednesday, even as its results were tempered by ongoing losses in consumer loan portfolios.

The results marked a reversal of fortune for Morgan Stanley, which had reported three consecutive quarterly losses.

Freddie Mac reported a surprising profit in the second quarter, but the profit turned to a loss for shareholders after the company paid the U.S. government a $1.1 billion dividend.

The company, reporting its first profit since 2007, said quarterly net income was $1.8 billion.