GE sheds profits in 2Q

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.