GE HealthCare Technologies Inc. revealed on Wednesday that its revenue in the second quarter of the fiscal year 2024 was flat compared to the same period a year prior, standing at $4.8 billion.
On the other hand, the company's net income rose by 2.4% year-on-year to land at $428 million. Meanwhile, its diluted earnings per share (EPS) soared by 97.6% compared to the same period in 2023 to hit $0.81. Diluted earnings per share (EPS) advanced from $0.91 recorded in the second trimester of 2023 to $0.93 in the three months which ended on June 30, 2024.
"In the second quarter, we delivered year-over-year sales growth and margin expansion despite headwinds in the China market. We also reported solid orders growth with particular strength in the U.S., as healthcare systems invest in technologies that enhance patient care and improve productivity," President and CEO Peter Arduini commented. Following the release of the report, GE HealthCare's stock sank by 9.12% during premarket trading.
