Royal Philips posts Q1 net profit despite sales drop
Updated
Updated · The Wall Street Journal · May 6
Royal Philips posts Q1 net profit despite sales drop
13 articles · Updated · The Wall Street Journal · May 6
The Dutch health-tech group reported €151 million profit on €3.91 billion sales, versus €76 million profit a year earlier, beating analyst expectations for both measures.
Comparable sales rose 4%, driven by North America, Europe and Personal Health, with Western Europe showing particularly strong growth and Europe increasing on both nominal and comparable bases.
Philips maintained its full-year outlook for 12.5%-13.0% adjusted EBITA margin and 3%-4.5% comparable sales growth despite the first-quarter nominal revenue decline.
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