GE Healthcare posts increase in profits, revenue for Q2

While General Electric reported a net earnings increase of 19 percent in the second quarter of 2010 ($3.2 billion versus $2.7 billion in the 2009 second quarter) and a 4 percent decrease in revenues, its GE Healthcare unit recorded a 3 percent increase in revenue over the 2009 second quarter revenues.

“GE’s economic environment continues to improve,” GE Chairman and CEO Jeff Immelt said. “Oil & Gas and Healthcare [unit] orders were particular bright spots and helped hold total company orders backlog roughly flat, excluding the impact of foreign exchange.”

For its healthcare unit, the company reported revenues of $4.1 billion in this year’s second quarter compared with $3.96 billion in the 2009 second quarter. GE Healthcare also saw a segment profits increase—12 percent, $661 million in 2010 second quarter versus $590 million in the comparable year-over-year quarter of 2009.

GE Healthcare also posted $4.3 billion in overall orders—a 6 percent increase over the 2009 second quarter—with a 9 percent increase in equipment and a 2 percent increase in service contracts.