GE HealthCare reported an increase in revenue for the second quarter of 2023, citing strong global customer demand and an increase in total company orders during the period.
For the period (end-June 30), GE HealthCare had revenues of $4.8 billion, up 7% from $4.5 billion a year ago, the company reported. However, second-quarter net income was $418 million, down from $485 million in the same period last year.
The company's imaging segment had revenues of $2.6 billion, an increase of 7% over the same period last year. The growth was driven by supply chain fulfillment improvements, stable demand, new product introductions, and its molecular imaging, CT, and MRI segments, according to the firm.
Meanwhile, GE HealthCare's ultrasound segment saw revenues of $839 million, a 1% increase over the same period last year. This was driven by revenue growth in GE's cardiovascular and women's health segments and attributable to new AI product introductions, it said.