{"id":92404,"date":"2020-10-19T12:01:36","date_gmt":"2020-10-19T09:01:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/philips-q3-earnings-boosted-by-virus-healthcare-demand\/"},"modified":"2020-10-19T12:01:36","modified_gmt":"2020-10-19T09:01:36","slug":"philips-q3-earnings-boosted-by-virus-healthcare-demand","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/philips-q3-earnings-boosted-by-virus-healthcare-demand\/","title":{"rendered":"#Philips Q3 earnings boosted by virus healthcare demand"},"content":{"rendered":"

“#Philips Q3 earnings boosted by virus healthcare demand<\/strong>”<\/p>\n

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\"Philips
\n Philips has diversified out of its traditional electrical app<\/a>liances business into health
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Dutch firm Philips said Monday its third quarter net profit rose sharply as its health arm got a boost from demand driven by the coronavirus pandemic.<\/p>\n

Net profit for the three months to September jumped more than 63 percent from a year earlier to 340 million euros ($400 million) while sales were up 10 percent at five billion euros, said the company which has diversified out of its traditional electrical appliances business into health.<\/p>\n

“I am pleased that, under challenging circumstances, we have been able to execute our plans and return to growth and improved profitability,” CEO Frans van Houten said in a statement.<\/p>\n

Van Houten highlighted the progress made by the medical division.<\/p>\n

“It is clear that the Covid-19 pandemic is far from over, and our teams remain fully focused on delivering against our trip<\/a>le duty of care\u2014meeting critical customer needs, safeguarding the health and safety of our employees, and ensuring business continuity,” he said.<\/p>\n

Investors welcomed the figures and an accompanying upgrade to its 2021-25 sales forecast, pushing the shares up nearly four percent in early trade on the Amsterdam stock market.\n <\/p>\n\n

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Philips underlying 2018 profit higher after lighting sale<\/a>\n <\/div>\n

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\n \u00a9 2020 AFP<\/p>\n

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Citation<\/strong>:
\n Philips Q3 earnings boosted by virus healthcare demand (2020, October 19)
\n retrieved 19 October 2020
\n from https:\/\/techxplore.com\/news<\/a>\/2020-10-philips-q3-boosted-virus-healthcare.html<\/p>\n

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