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GE Healthcare's Q2 profits rise on flat sales

Fri, 07/19/2013 - 12:07pm
Mass Device

Profits for General Electric's GE Healthcare division are up for the 2nd quarter, despite flat sales.

GE Healthcare's Q2 profits rise on flat sales

General Electric (NYSE:GE) said today that its GE Healthcare division posted 2nd-quarter profit gains despite flat sales, as the parent conglomerate beat Wall Street's earnings forecast by a penny.

GE Healthcare logged profits of $726 million on sales of $4.49 billion for the 3 months ended June 30, for a bottom-line gain of 4.6% but a top-line slip of 0.2%. Orders for the division grew 9% compared with Q2 2012, according to a press release.

GE's overall profits were $3.13 billion, or 30¢ per share, on sales of $35.12 billion for the quarter. That represents profit growth of just 09.% on a sales decline of 3.5%.

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