Philips reports Q3 EPS 32 vs. 32c last year

Reports Q3 revenue EUR 4.38B vs. EUR 4.47B. Group comparable sales were flat. Comparable order intake in the quarter declined 2%. The company said, “”In the quarter, demand from hospitals and consumers in China further deteriorated, while we continue to see solid growth in other regions. We have adjusted our full-year sales outlook to reflect the continued impact from China. Strong improvement in profitability was driven by progress on our execution priorities, productivity measures and the improved margins of our AI-driven, industry-leading innovations. Within a challenging macro environment, we remain focused on successfully executing our three-year plan to fully capture growth and margin expansion opportunities. With patient safety as our number one priority, we are committed to delivering better care for more people.”