GE HealthCare Stock Surges as Profits Beat Estimates, Despite China Sales Headwinds

GE HealthCare (GEHC) shares roseate complete 4% successful early trading Wednesday aft nan institution reported second-quarter profits that hit analysts' estimates.

The erstwhile section of General Electric reported net income of $435 million, up somewhat from nan year-ago play and supra expecations. Revenue of $4.84 cardinal was astir level from nan twelvemonth earlier and narrowly missed expert estimates.

Sales Weakness successful China Leads to Lower Revenue Growth Outlook

GE HealthCare CEO Peter Arduini said second-quarter income were affected by headwinds successful China, and that nan institution is projecting those headwinds to apt effect results for nan year.

The institution lowered its full-year gross guidance to maturation of betwixt 1% and 2%, down from astir 4% previously.

The alteration comes aft Arduini said successful nan company's first-quarter update earlier this twelvemonth that GE HealthCare expected overmuch of its maturation for fiscal 2024 to travel successful nan 2nd half of nan year.

GE HealthCare shares were up 4.6% to $86.48 arsenic of 11:15 a.m. ET Wednesday, contributing to nan stock's astir 12% summation truthful acold this year.