AMSTERDAM (Reuters) – 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% to 7% comparable sales growth over 2023, with a profit margin (adjusted EBITA) of 10%-11%.
($1 = 0.9456 euros)
(Reporting by Bart Meijer; Editing by Jacqueline Wong)
