Sector: Healthcare|Industry: Health Information Services|Market Cap: $35.22B|Employees: 51K
GE HealthCare Technologies Inc. is a global medical technology, pharmaceutical diagnostics, and digital solutions innovator. The company operates at the center of the healthcare ecosystem, providing medical devices, consumable products, service capabilities, and digital solutions. They have a strong market position and competitive advantages due to their broad service capabilities, dedication to quality, and a strong operational culture. GE HealthCare serves customers in approximately 160 countries with a global team and a network of manufacturing sites.
Total revenues decreased by 1% year-over-year, from $4.707B to $4.650B, primarily due to a 3% decrease in product sales, partially offset by a 2% increase in service sales.
Net income attributable to GE HealthCare increased from $372M to $374M year-over-year, despite the revenue decline, indicating improved cost management or other factors.
Operating income decreased from $559M to $540M year-over-year, reflecting the impact of decreased revenues and increased operating expenses, particularly in R&D.