
Philips Shares Pop 12% as Company Reports Q1 2023 Results and Expresses Confidence in Fiscal Year
With Q1 over, the CEO is confident that Philips will deliver on its plan for 2023.
With Q1 over, the CEO is confident that Philips will deliver on its plan for 2023.
Philips posted its Q3 2022 report as the company grapples with the fallout from a medical equipment recall.
With the spike in Q1 sales, Philips now expects “low-to-mid-single-digit comparable sales growth.”
Philips however in a statement revealed that, even though its net profit for 2020 rose, it saw “uncertainty” this year due to the COVID-19 pandemic.
Philips announced the launch of its remote monitoring and defibrillator solution dubbed Tempus ALS. PHG stock is down in the pre-market.
Philips reported a Q2 net income of $229 million. On a per-share basis, profit was 25 cents. Earnings, adjusted for one-time gains and costs, came to 39 cents per share. PHIA stock is rising.