GE beats The Street as healthcare segment thrives in Q2

GE (NYSE:GE) shares ticked up today on second-quarter results that beat the consensus forecast.

The Boston-based company’s healthcare segment posted profits of $801 million, registering a bottom-line gain of 58.3% year-over-year on sales of $4.5 million — a 14% increase on revenues from the previous year.

GE’s overall sales totaled $18.3 billion for the three months ended June 30, 2021, marking sales growth of 8.8%. Adjusted to exclude one-time items, earnings per share were 5¢, 1¢ ahead of Wall Street, where analysts were looking for sales of $18.1 billion.

“The GE team delivered strong overall performance in the second quarter,” GE chairman & CEO H. Lawrence Culp Jr. said in a news release. “Orders and revenue returned to growth, our operating margins expanded across all segments, and we generated positive Industrial free cash flow. Momentum is building across our businesses, driven by healthcare and services overall ……

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GE ticks up on mixed-bag Q4

General Electric (NYSE:GE) shares ticked up today on fourth-quarter results that were mixed compared the consensus forecast.

The Boston-based company posted profits of $2.6 billion, or 27¢ per share, on sales of $21.9 billion for the three months ended Dec. 31, 2020, more than tripling its bottom line despite a sales decline of -16.4%.

Adjusted to exclude one-time items, earnings per share were 8¢, 1¢ behind Wall Street, where analysts were looking for sales of $21.8 billion.

GE Healthcare brought in nearly $5 million in revenues, marking a -15% decline attributed largely to the sale of its biopharma arm to Danaher in the spring of 2020. The segment’s profits of $949 million were down -17% from $1.1 billion last year.

The company said in a news release that its revenues were up 6% organically thanks to growth in its life care solutions business with the delivery of Carescape R860 ventilators during the COVID-19 pandemic, as well as imaging a…

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