Philips Backs Annual Guidance On Higher Q2 Earnings Despite China Weakness
Portfolio Pulse from Vandana Singh
Philips (NYSE: PHG) reported higher Q2 2024 earnings, with sales reaching €4.46 billion, beating expectations. Despite a decline in China, the company saw growth across all segments and regions. Adjusted EPS rose to €0.30, and the company reaffirmed its annual guidance. Philips' stock is up 10.1% in premarket trading.
July 29, 2024 | 11:46 am
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Philips reported strong Q2 2024 earnings, with sales of €4.46 billion, beating expectations. Despite challenges in China, the company saw growth across all segments and regions. Adjusted EPS increased to €0.30, and the company reaffirmed its annual guidance. The stock is up 10.1% in premarket trading.
Philips' strong Q2 earnings, beating sales expectations and showing growth across all segments, have positively impacted investor sentiment. The reaffirmation of annual guidance and a 10.1% premarket stock increase indicate a positive short-term impact on the stock price.
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