Dutch health tech company Philips raises outlook as Q3 profit jumps

Dutch health technology company Philips on Monday raised its full-year outlook as it beat analyst expectations with a more than doubling of third-quarter core profit to 457 million euros ($483.3 million).

Analysts in a company-compiled poll on average had predicted adjusted earnings before interest, taxes and amortisation (EBITA) in July-September would rise to 389 million euros from 209 million euros the year before.

Philips said it now expected 6 per cent to 7 per cent comparable sales growth over 2023, with a profit margin (adjusted EBITA) of 10 per cent per cent.