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Philips Healthcare's Q3 profits jump on double-digit sales boost

Mon, 10/22/2012 - 1:43pm
Mass Device

Philips Healthcare's 3rd-quarter income from operations jumps more than 34% on an 18% sales increase.

Philips

Third-quarter profits for the parent company of Philips Healthcare (NYSE:PHG) soared by some 124%, fueled in part by strong top-and bottom-line growth for the healthcare business.

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.

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