GE Healthcare boosted its profit in its third quarter (end-September 30), despite flat revenues.
For the quarter, the healthcare division posted a profit of $665 million, up 7% from the $620 million reported in the same quarter of 2012. The segment's profit was driven by cost productivity, GE said.
At the same time, revenue essentially remained flat at $4.304 billion in Q3 2013, compared with $4.307 billion in the third quarter of 2012. Revenue was driven by 13% growth in China, which was offset by a 2% decline in developed markets, particularly a 27% drop in Japan. Both the U.S. and Europe were up 2% each.
GE Healthcare took in $4.7 billion in orders during the quarter, the company said.
