Profits for the healthcare business at GE rose despite flat sales growth for the third quarter, as the parent company posted a swing to red ink on a -$22 billion charge.
The Boston-based industrial conglomerate reported healthcare profits of $861 million on sales of $4.71 billion for the three months ended Sept. 30, for bottom-line growth of 1.7% on a -0.1% sales decline compared with Q3 2017. The red ink was due to a -$21.97 billion goodwill impairment charge.
GE reported losses of -$22.81 billion, or -$2.62 per share, on sales of $29.57 billion for the quarter, for a top-line slide of -3.6%.
