GE sheds profits in 2Q

July 20, 2009

GE healthcare sales declined 11% this past quarter, ranking it among transportation, aviation, and financials as the units hardest hit during this period by the current recession.

GE sheds profits in 2Q
GE healthcare sales declined 11% this past quarter, ranking it among transportation, aviation, and financials as the units hardest hit during this period by the current recession. A difficult U.S. market for CT and MR scanners underlies softness on the medical imaging side of GE's healthcare business. Overall, profits at the international conglomerate declined by nearly 50% in the second quarter. Yet the company managed to generate nearly $2.7 billion in profits on $39.1 billion in revenue.