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Philips earnings: Q3 net income comes in at 307 million euros vs. 350.5 million expected

“For the quarter ending Sept 30., Philips posted a profit of 292 million euros ($335 million), significantly below analyst expectations of 350.5 million euros” writes Lex Van Lieshout for cnbc.com. Dutch health care technology company Philips reported weaker-than-expected third-quarter net income on Monday, citing subdued growth in key markets and foreign currency headwinds. Since the separation of its lighting division in 2016, the firm focuses on medical devices and health care products ranging from medical scanners to toothbrushes.Revenue increased to 4.31 billion euros from 4.15 billion euros for the same period last year, with comparable sales growth up 4 percent.”The profit improvement of 40 basis points on the operating income could have been a bit higher if it were not for currency headwinds, which were sizable in the emerging markets.
 
Source: cnbc.com



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