Philips jumps on greater earnings (NYSE:PHG)

Philips (NYSE:PHG): Q3 Non-GAAP EPS of €0.60 beats by €0.14; GAAP EPS of €0.37.

Income of €5B (+6.4% Y/Y) beats by €200M.

“Trying forward, we proceed to see uncertainty and volatility associated to the impression of COVID-19 internationally, however our order e book stays stable. For the total 12 months 2020, we proceed to anticipate to ship modest comparable gross sales progress, with an Adjusted EBITA margin of across the stage of final 12 months,” commented Frans van Houten, CEO.

The corporate recorded a robust 10% comparable gross sales progress and Adjusted EBITA margin improved 300 bps to fifteen.4%.

Shares +3% in Amsterdam.

Press Release

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