GE HealthCare has reported a net income of $720m, or $1.57 per diluted share, for the fourth quarter ended 31 December 2024, a 79% rise compared to $403m, or $0.88 per diluted share, for the same quarter in 2023.
The health technology company’s net income for the fourth quarter of 2024 (Q4 2024) increased by 53% compared to $470m for the third quarter of 2024 (Q3 2024).
Its total revenues for the reported period were $5.31bn, which increased by 2.2% compared to $5.2bn for Q4 2023, and 9.4% compared to $4.86bn for Q3 2024.
The US-based company reported total operating expenses of $1.47bn for Q4 2024, a 1% increase compared to $1.46bn for the same period in 2023.
GE HealthCare reported an operating income of $801m for Q4 2024, a 16.3% rise compared to $689m for the same quarter in the previous year.
The medical technology company reported an income before tax of $834 for Q4 2024, a 36.9% increase compared to $609m for the respective quarter in 2023.
GE HealthCare president and CEO Peter Arduini said: “We were pleased with the strong momentum in orders, backlog and book-to-bill that we saw in the fourth quarter.
“We also continued to deliver revenue growth driven by demand in our Advanced Visualisation Solutions and Pharmaceutical Diagnostics businesses, with overall strength in the US, and robust margin expansion and earnings growth.
“Customer interest in new, differentiated products contributed to orders growth and recurring revenue in the year. We remain committed to our precision care strategy for growth, supported by innovation, productivity initiatives, and commercial execution.”
GE HealthCare reported a net income of $1.99bn, or $4.34 per diluted share, for the full year 2024, a 44% rise compared to $1.38bn, or $3.04 per diluted share, for the full year 2023.
The company’s total revenues for the full year 2024 were $19.67bn, which increased by 1% compared to $19.55bn for the full year 2023.
GE HealthCare reported total operating expenses of $5.58bn for the full year 2024, a 2% rise compared to $5.48bn for the full year 2023.
The health technology company has income before tax of $2.58bn a 9.3% increase compared to $2.36bn for the full year 2023.
Arduini added: “In 2024, we introduced approximately 40 innovations and closed more than 50 strategic enterprise deals globally, laying a solid foundation for future growth.
“We started 2025 with commercial momentum announcing two strategic long-term enterprise deals – Sutter Health in the U.S., and Nuffield Health in the UK.
“These collaborative agreements help increase capacity, expand access to quality care for patients, and drive growth for our customers and GE HealthCare.”
