DOTmed May 6, 2024
GE HealthCare stock has dropped over 10% since last week, when the company unveiled its first quarter earnings.
Here are seven key takeaways from the company’s financial disclosure:
Stable revenue amid challenges: GE HealthCare reported revenue down 1% year-over-year, totaling $4.6 billion for the first quarter of 2024. Organic revenue growth remained flat, indicating a balance between declining volumes and positive pricing adjustments.
Weakness in China: The medical device maker’s revenue from China market, which constitutes nearly 13% of its total revenue, dropped more than 11% in the quarter. “Many of GE HealthCare’s suppliers were noting weakness in China last quarter, so it makes some sense that we would see that come through (to this quarter),” BTIG analyst Ryan Zimmerman...
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