GE HealthCare beats Q3 profit estimates on U.S. demand for medical devices [Yahoo! Finance]
GE Aerospace (GE)
Last ge aerospace earnings: 4/30 04:02 pm
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Source: Yahoo! Finance
slowing sales in China due to disruptions in the country's healthcare sector because of an anti-corruption drive. The company also raised the lower end of its annual adjusted profit forecast to $4.25 per share from $4.20 previously, keeping the upper end at $4.35. Analysts on average were expecting $4.25 per share, according to data compiled by LSEG. "Both sales and orders grew in the mid-single digits excluding China, with particular strength in the U.S. across all segments," said CEO Peter Arduini. Sales in the U.S. and Canada rose 8% to $2.25 billion, but were down 22% at $564 million in China. Medical device makers have been benefiting from increased demand for heart procedures and non-urgent surgeries such as hip and knee replacements over the past few quarters especially among older adults, who deferred these procedures during the pandemic. However, the company said it expects revenue growth trending towards the lower end of its forecast of 1% to 2% growth year-over-
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