NEW YORK (AP) — General Electric Co. said Friday that net income fell 16 percent in the second quarter because of losses in businesses it has divested and an increase in pension costs.

Still the company's profit from operations was slightly better than Wall Street expected, driven by double-digit growth in its large energy infrastructure business.

GE is wading through "a still volatile global economy," CEO Jeff Immelt said. Its core businesses are growing profits, though, and "we ended the quarter with a record backlog."

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