Philips rose more than 10% before the market opened, and its adjusted pre-tax profit in Q2 exceeded expectations and it reiterated its full-year guidance

Market Information 29/07/2024 16:13

Special topic: Focus on the second quarter financial report of US stocks in 2024

Glodon July 29th | Dutch healthcare company Philips (PHG.US) US stocks rose more than 10% in pre-market trading to $28.4. On the news front, Philips announced its second-quarter results, with sales of 4.46 billion euros, market expectations of 4.49 billion euros; adjusted pre-tax profit of 495 million euros, market expectations of 426.3 million euros; Ebita margin rose from 10.1% to 11.1%. Driven by the North American market, comparable orders in the second quarter increased by 9% year-on-year. The company reiterated its full-year guidance, expecting comparable sales to increase by 3% to 5%, adjusted Ebita margins between 11% and 11.5%, and free cash flow between 900 million and 1.1 billion euros.

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