NEW YORK (CNNMoney.com) - General Electric hit forecasts for improved first quarter earnings with slightly better than expected revenue.

The world's No. 2 company in terms of market value earned $4.0 billion, or 39 cents a share, which matched the forecast of analysts surveyed by First Call. A year ago the company earned 37 cents a share on a diluted basis, although that was 33 cents a share from continuing operations.

Diversified conglomerate GE (Research), whose businesses range from jet engines to household appliances and from financial services to media, had revenue from continuing operations of $37.8 billion, up 10 percent from revenue of $34.4 billion from continuing operations a year earlier. First Call had forecast revenue of $37.4 billion for the period.

The company had 9 percent organic revenue growth, which excludes gains from acquisitions, changes in currency exchange rates and the $684 million in revenue it saw from broadcasting the Winter Olympics.

Beating revenue targets was important for the company. In January the company also hit forecasts for improved earnings. But its sales fell short of forecasts for revenue growth and shares of GE lost 4 percent that day as a result and continued to lose ground for the next few days as well.

The company said it again expects double-digit segment profit growth in five of its six businesses and earnings per share from continuing operations of 46 to 48 cents. First Call's forecast is for EPS of 47 cents in the period, up from 44 cents a year ago.

GE also reaffirmed its full-year 2006 guidance of earnings from continuing operations, as it sees a gain of 13 to 17 percent and EPS of $1.94 to $2.02. First Call's forecast is for full-year EPS of $1.99.

The company reported revenue growth in every segment, led by a 24 percent gain at NBC Universal, which had the boost from advertising during the Winter Olympics. But the company's entertainment unit was also the only one not to report a double digit gain in earnings, as its profits fell 8 percent compared to a year earlier. The company said is improving NBC Universal's performance through a diversification of its business mix.

Profit gains ranged from a 27 percent improvement at commercial fiance to an 11 percent rise in its infrastructure business, which includes aviation, transportation and energy.

Early pre-market trading in shares of the Dow component were little changed on Inet soon after the report.

The company said that the outlook for further gain sales was good, with a 33 percent gain in orders.

"Our orders for equipment and services were particularly robust, growing 67 percent and 20 percent, respectively," said Chairman and CEO Jeff Immelt in a statement. "This gives us good visibility going forward."

The company earned about $300 million from discontinued operations, which brought net income to 41 cents a share, up 11 percent from a year earlier. It is in the process of selling Genworth, GE Insurance Solutions and GE Life.

"Our strategic exit from the insurance business is on track," added Immelt. "We expect to close the sale of Insurance Solutions to Swiss Re in the second quarter of this year and anticipate selling GE Life in the next 12 months. When we complete the Insurance Solutions sale, we will receive up to $3 billion in cash and have a stronger portfolio of higher return, less volatile businesses."

For a look FORTUNE's look at what makes GE great, click here.