General Electric released its third-quarter earnings last week, and numbers show GE Healthcare’s profit and revenue are both down compared to 2014.
Third-quarter profit for GE Healthcare dropped 10 percent to $652 million, and revenue dropped 5 percent to $4.25 billion.
Overall, GE’s profit dropped 29 percent to $2.5 billion, and revenue dropped 1 percent to $31.7 billion.
Jeff Immelt, GE chairman and CEO, said in a statement that the company was still on track to meet its goals for 2015.
“Our portfolio transformation is happening at an unprecedented pace,” Immelt said. “We have a focused infrastructure business with leading capabilities in our markets. We are positioned to grow faster than our competitors, with a strong dividend. We are growing operating and gross profit margins, executing our cost-out initiatives, and making corporate smaller.”
GE’s statement also lists some of the company’s recent industrial deals, including its seven-year collaboration with Temple University Health System.
The full release can be read on the GE’s website.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.