Dutch Health Tech Firm Philips' Q3 Earnings Miss Expectations, Lowers Annual Forecasts On Weak Demand In China
Portfolio Pulse from Vandana Singh
Philips reported Q3 earnings that missed expectations, with a significant impact from weak demand in China. The company lowered its annual sales forecast and expects slower growth in 2024. Despite challenges, Philips sees growth opportunities outside China.
October 28, 2024 | 11:19 am
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Philips' Q3 earnings missed expectations due to weak demand in China, leading to a lowered annual sales forecast. The company sees growth opportunities outside China but expects slower growth in 2024.
Philips' earnings miss and lowered forecast are directly linked to weak demand in China, a key market. This has led to a significant premarket drop in stock price, indicating negative short-term impact.
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