Sales and profit growth for GE Healthcare (NYSE:GE) were sorely needed bright spots during the second quarter for its parent company, which saw its overall profits halved on a nearly -12% top-line slide but still managed to eke out revenue and earnings beats.
GE Healthcare put up profits of $826 million on sales of $4.70 billion for the three months ended June 30, for gains of 5.6% and 3.9%, respectively, compared with Q2 2016.
But GE’s overall profits plunged -52.0% to $1.35 billion, or 15¢ per share, on sales of $29.56 billion – a -11.8% slide. Adjusted to exclude one-time items, earnings per share were 28¢, 3¢ above the consensus estimate on Wall Street, where analysts were looking for sales of $29.02 billion.
