Dutch Health Tech Firm Philips' Q3 Earnings Miss Expectations, Lowers Annual Forecasts On Weak Demand In China
On Monday, Koninklijke Philips NV (NYSE:PHG) reported third-quarter adjusted EPS of 0.32 euros (or $0.35), missing the consensus of 0.35 euros. “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,” said Roy Jakobs, CEO of Royal Philips. “Within a challenging macro environment, we remain focused on successfully executing ou
