GE Healthcare reported a 1% decline in revenues for the company's second quarter of fiscal 2019 (end-June 30), but profit at the division grew for the period.
For the second quarter, GE reported revenues of $4.934 billion, down 1% compared with revenues of $4.978 billion in the corresponding quarter of 2018. The division's profit for the quarter came in at $958 million, up from $926 million in the same quarter the year before.
GE said that its Healthcare Systems segment was up, with growth in Europe that was offset by weakness in China and North America. GE Healthcare's profit was driven by volume and cost productivity, positive trends that were partially offset by inflation, tariffs, and investments. The segment's profit margin also improved, to 19.4% in the most recent period from 18.6% in the second quarter of 2018.
For the six months year to date, GE Healthcare's revenues slipped 1%, to $9.616 billion from $9.68 billion in the first half of 2018. Segment profit was up, however, to $1.74 billion from $1.66 billion in the first half of the year before.
