(Reuters) -GE Healthcare cut its annual revenue growth forecast on Wednesday as it expects a slowdown in China sales, sending its shares down nearly 10% in trading before the bell.
The company cut its organic sales growth forecast to a range of 1% to 2% from about 4% expected previously.
The company said at an investor conference last month that it expected a sales decline in China during the first half of the year.
It also said it expected to see growth in the second half after being affected by the Chinese government’s anti-corruption campaign that began last year.
However, the medical device maker’s second-quarter adjusted profit of $1 per share, beat Wall Street estimates of 98 cents per share, according to LSEG data.
(Reporting by Puyaan Singh; Editing by Anil D’Silva)
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