Philips Healthcare's Q3 profits jump on double-digit sales boost
Philips Healthcare's 3rd-quarter income from operations jumps more than 34% on an 18% sales increase.
The Dutch conglomerate posted profits of $221.9 million (€170 million), or 23¢ per share, on sales of $8.0 billion (€6.13 billion) during the 3 months ended Sept. 30. That's a profit increase of 123.7% and a sales increase of 13.6%.
The news sent PHG shares up 5.7% to $26.01 apiece as of about 1:30 p.m. today on Wall Street.