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GE Healthcare’s 4Q profit, revenue both drop

General Electric (GE) released its fourth-quarter earnings last week, and numbers show GE Healthcare’s profit and revenue are down compared to 2014’s numbers.

Fourth-quarter profit for GE Healthcare was $938 million, a 3 percent drop from 2014, and revenue was $4.97 billion, an 8 percent drop from 2014.

For the year, GE Healthcare’s profits were $2.88 billion, down 5 percent, and revenue was $17.64 billion, down 4 percent.

Overall, GE posted a $6.1 billion loss for 2015, but  reporting from IndustryWeek.com  indicated that this is mostly due to the company’s significant restructuring. The earnings report shows GE’s total revenue for 2015 was more than $117 billion.

Jeff Immelt, GE chairman and CEO, still sounded optimistic in the prepared statement accompanying the fourth-quarter numbers.

“GE executed well in a slow-growth environment,”  Immelt said.  “For 2015, we accomplished all of the goals we outlined for investors.”

Immelt added that the future looks bright for GE, praising the recent formation of GE Digital.

“In a time of uncertain global conditions, we have the unique ability to invest through cycles and use the diversity of our portfolio to our advantage,” Immelt said.

GE has already grabbed headlines this week. The company agreed to a $328.8 million deal with Iraq, according to reporting by  Investors.com.

Coverage of GE’s third-quarter earnings can be found  here. 

(Watch for Siemens earnings Tomorrow – Pat)

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