GE posts strong revenue growth in Q3

2020 01 29 18 12 5932 Ge Rsna 2019 400

Sales growth for its imaging and ultrasound products contributed to a strong increase in revenue for GE Healthcare in its fiscal third quarter.

For the period (end-30 June), GE had $4.45 billion (3.75 billion euros) in revenues, up 14% as reported and up 10% on an organic basis from the $3.89 billion (3.28 billion euros) generated in the third quarter of 2020. In quarterly highlights, GE's pharmaceutical diagnostics business produced nearly 50% organic revenue growth. Healthcare systems revenues also increased, with higher demand for imaging and ultrasound products more than offsetting declines in life care solutions, according to the vendor.

Also, the firm had $4.85 billion (4.09 billion euros) in orders during the third quarter, up 14% as reported and up 11% organically. Healthcare systems orders were up 7% on an organic basis, as imaging and ultrasound order growth made up for lower life care solutions orders, GE said.

The company had $801 million (675  million euros) in profit, compared with $506 million (426.7 million euros) in the same quarter last year.

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