Philips first-quarter core profit misses estimates on bleak sales

FILE PHOTO: Dutch technology company Philips. logo is seen at company headquarters in Amsterdam, Netherlands, January 29, 2019. REUTERS/Eva Plevier/File Photo - Copyright Eva Plevier(Reuters)

By Reuters

Published on 29/04/2019 - 07:34•Updated 20/04/2024 - 02:09

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AMSTERDAM (Reuters) - Dutch health technology company Philips on Monday posted a 6 percent rise in first-quarter core earnings, but missed analysts' expectations on bleak sales growth.

The company's core profit came in at 364 million euros (£314.4 million), compared with 344 million euros in the previous year.

Analysts polled for Reuters had expected adjusted earnings before interest, taxes and amortisation (EBITA) of 371 million euros, while comparable sales growth of 2 percent missed expectations of a 2.4 percent improvement.

(Reporting by Bart Meijer, Editing by Sherry Jacob-Phillips)

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