Philips shares are trading lower after the company reported Q3 EPS and sales below estimates and revised its 2024 outlook due to weak demand in China.
Portfolio Pulse from Benzinga Newsdesk
Philips shares declined after the company reported Q3 earnings and sales below expectations and revised its 2024 outlook due to weak demand in China.
October 28, 2024 | 10:53 am
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Philips reported Q3 earnings and sales below estimates, leading to a downward revision of its 2024 outlook due to weak demand in China. This has caused a decline in its share price.
Philips' Q3 earnings and sales figures were below market expectations, which typically results in a negative market reaction. The revision of the 2024 outlook due to weak demand in China further exacerbates investor concerns, leading to a decline in share price.
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