Skip to main content
Premium Trial:

Request an Annual Quote

GE Healthcare's Q2 Revenue, Profit Slide

NEW YORK (GenomeWeb News) — General Electric today said that second-quarter revenue for its Healthcare division slipped slightly as income declined 8 percent.
 
GE Healthcare’s receipts for the three months ended June 30 dipped to $4.13 billion from $4.16 billion year over year.
 
GE Healthcare’s earnings for the quarter dipped to $731 million from $795 million in the second quarter of 2006.
 
GE did not break out its research and development expenses for the Healthcare segment.
 
GE CEO Jeffrey Immelt said that GE Healthcare was hurt in the quarter by the federal government’s Deficit Reduction Act and the “continued regulatory suspension on shipments of surgical supplies by our OEC business,” which was greater than expected.”
  
In the short term, he said, “these challenges more than offset strong performances in our other Healthcare businesses. However, the future of this business remains solid."
 
GE's total revenues for the quarter were $42.3 billion, up from $37.7 billion during the same period last year.
 
GE said yesterday it has terminated its plan to buy Abbott Technologies’ in vitro and point-of-care diagnostics businesses for $8.13 billion.

The Scan

Y Chromosome Study Reveals Details on Timing of Human Settlement in Americas

A Y chromosome-based analysis suggests South America may have first been settled more than 18,000 years ago, according to a new PLOS One study.

New Insights Into TP53-Driven Cancer

Researchers examine in Nature how TP53 mutations arise and spark tumor development.

Mapping Single-Cell Genomic, Transcriptomic Landscapes of Colorectal Cancer

In Genome Medicine, researchers present a map of single-cell genomic and transcriptomic landscapes of primary and metastatic colorectal cancer.

Expanded Genetic Testing Uncovers Hereditary Cancer Risk in Significant Subset of Cancer Patients

In Genome Medicine, researchers found pathogenic or likely pathogenic hereditary cancer risk variants in close to 17 percent of the 17,523 patients profiled with expanded germline genetic testing.