GE sees uptick in healthcare revenue, despite 6% profit dip overall
GE Healthcare experienced a revenue increase of $4.49 billion in the second quarter of 2008, compared to revenues of $4.05 billion last year. The healthcare sector also posted an 8 percent profit with $747 million in the second quarter of 2008, compared to $692 million in the same quarter last year.
Including all business segments, GE reported an 11 percent increase, or $469 billion, in second quarter revenue from continuing operations, but a 6 percent decline in profitability, for the 2008 second fiscal quarter.
For the six months ended June 30, GE had net income of $9.4 billion, on revenue of $89.2 billion, compared with net income of $9.9 billion, on revenue of $81.6 billion, in the first half of 2007.
“Healthcare had a much improved quarter with 8 percent segment profit growth. We had strong global equipment and services growth, and we benefited from the resumed delivery of over 700 units from our OEC surgical business. The U.S. diagnostic imaging equipment market is still challenging, but it is improving,” said Jeff Immelt, CEO and chairman of GE.