GE HealthCare Slashes Profit Forecast, Shares Plummet

GE HealthCares full-year profit forecast plummeted due to inflation, with a nine percent share drop following a supplier glitch in diagnostics. CEO Peter Arduini attributed the issue to rising costs in memory chips, oil, and freight. The company plans to counteract the impact through price hikes and cost cuts, with a new adjusted profit outlook of four dollars eighty cents to five dollars per share. Despite missing first-quarter earnings estimates, revenue still beat expectations, with strong demand for diagnostic and imaging gear. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/00d7a84d7edd722d