Philips beats quarterly profit estimates on higher sales, gross margin
PHG•Philips’ third-quarter adjusted earnings before interest, taxes, depreciation and amortisation rose 7.2% to €569 million, beating the €522 million consensus estimate, driven by higher sales, gross margin and productivity measures.
1. Quarterly earnings
Philips reported third-quarter adjusted earnings before interest, taxes, depreciation and amortisation of €569 million, up 7.2% and above the €522 million consensus estimate listed on the company’s website. The company attributed the increase to higher sales and gross margin, alongside productivity measures.
