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GE Healthcare’s sales, profits up in Q1

April 20, 2018

GE Healthcare (NYSE:GE) posted gains to its top and bottom lines during the first quarter, as its corporate parent topped Wall Street’s earnings forecast despite lower-than-expected sales.

Little Chalfont, U.K.-based GE Healthcare posted profits of $735 million for the three months ended March 31, up 11.2% compared with Q1 2017, on sales growth of 9.2% to $4.70 billion.

The Boston-based industrial conglomerate said orders were up 4.3% to $4.73 billion for the healthcare business, with the profit growth driven by volume and productivity. Earlier this month the company said it agreed to sell its value-based healthcare division to Veritas Capital for $1.05 billion in cash; that deal is expected to close during the third quarter, GE said today.

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