Philips 3Q Comparable Sales Up 11%

Royal Philips raised its full-year guidance after swinging to net profit for the third quarter of the year on higher sales, with growth in all segments and geographies.

The Dutch health-technology company said Monday that it now expects to report a 6% to 7% rise in comparable sales this year compared with previous guidance for mid-single-digit comparable growth.

Adjusted earnings before interest, taxes and amortization margin is seen at 10% to 11% compared with previous guidance at the upper end of the high-single-digit range for 2023.

Write to Ian Walker at [email protected]