Why GE HealthCare Technologies Are Rising

GE HealthCare Technologies Inc GEHC shares are trading higher after by 3.99% to $72.88 Monday morning the company reported fourth-quarter earnings results. Revenue increased 8% year over year and the company guided FY23 revenue growth of 5-7%.

What Happened?

GE HealthCare Technologies reported quarterly earnings of $1.31 per share. This is a decrease over earnings of $1.36 per share from the same period last year. The company also reported $4.94 billion in sales this quarter. This is a 7.6% increase over sales of $4.59 billion in the same period last year.

Additionally, GE HealthCare Technologies on Monday reaffirmed the company's FY23 adjusted EPS guidance of $3.60-$3.75.

See Also: Here's Why Alterity Therapeutics Shares Are Moving

GE HealthCare President and CEO Peter Arduini said, "GE HealthCare delivered strong revenue growth in the fourth quarter and full year 2022 driven by robust end market demand, improved pricing, and easing supply chain pressures. Revenue growth reflects our progress to offset delivery challenges and improve product fulfillment."

GE HealthCare Technologies is a global medical technology, pharmaceutical diagnostics and digital solutions innovator company.

According to data from Benzinga Pro, GEHC has a 52-week high of $73.95 and a 52-week low of $53.00.

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