In one of the last financial quarters before being spun out as an independent company, GE Healthcare posted gains in both revenue and segment profit for the second quarter of fiscal 2018 (end-June 30).
For the period, GE Healthcare recorded revenue of $4.978 billion, up 6% from sales of $4.7 billion in the corresponding quarter of 2017. The healthcare division's operating profit was $926 million, up 12% from profit of $826 million in the second quarter a year ago. GE Healthcare reported the second-highest operating profit among all GE business segments, behind only the company's Aviation division.
The division's operating profit was 18.6%, up 1.0 points. GE Healthcare reported $5.3 billion in orders for the quarter, consisting of $3.1 billion in orders for equipment and $2.2 billion for services. The company reported "broad global growth" in orders, led by the U.S. and China, with modest growth in Europe.
GE in June announced that it plans to spin off GE Healthcare into an independent company. The spin-off is expected to take place over the next 12 to 18 months.
