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Philips Posts Higher Q2 Profit

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Philips (NYSE: PHG) reported better-than-expected Q2 results.

Philips posted its quarterly net profit of 317 million euros ($416.5 million), versus 102 million euros, in the year-ago period.

Its sales surged 3% to 5.65 billion euros. However, analysts were expecting a net profit of 262 million euros on sales of 5.596 billion euros.

Philips shares closed at $30.75 on Friday.

Posted-In: profitEarnings News

 

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