Philips Q2 beats driven by all three businesses
AMSTERDAM, July 22
AMSTERDAM, July 22 (Reuters) - Philips, the Dutch healthcare, lighting and consumer appliances group, reported higher-than-expected second-quarter results driven by all three businesses after two years of job cuts, divestments, and a focus on core activities.
It reported second-quarter net profit of 317 million euros ($416.5 million), up from 102 million euros in the same period a year ago. Quarterly sales rose 3 percent on a comparable basis to 5.65 billion euros.
Analysts in a poll commissioned by Reuters had forecast a net profit of 262 million euros on sales of 5.596 billion euros.