Profits, sales up during Q2 for GE Healthcare

Profits and sales grew during the 2nd quarter for GE Healthcare (NYSE:GE), helping the industrial conglomerate beat Wall Street’s earnings forecast.

GE Healthcare’s operating profits rose 11% to $782 million on sales growth of 4% to $4.53 billion “driven by strong volume growth and cost productivity,” General Electric said, noting a margin gain of 110 basis points

Overall, GE swung to black ink for the 3 months ended June 30, posting profits of $2.74 billion, or 36¢ per share, on sales growth of 14.6% to $33.49 billion.

Adjusted to exclude 1-time items, earnings per share were 51¢, a full nickel ahead of The Street.

“The diversity and scale of our portfolio enabled the company to perform well despite a volatile and slow growth economy. We delivered $0.51 of earnings per share with strong execution in power, aviation and healthcare that offset challenging environments in oil & gas and transportation. We expect strong organic growth in the 2nd half of the year and reaffirm our 2016 operating framework,” chairman & CEO Jeff Immelt said in prepared remarks.

GE shares were down -0.9% to $32.29 apiece today in pre-market trading. The stock closed down -0.6% yesterday at $32.59per share.

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