Philips Posts Higher Q2 Profit
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.
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