Philips Rises On Improved Q1 Sales

Shares of Koninklijke Philips N.V. (PHG) are rising more than 14% Monday morning after the company reported improved sales in the first quarter.

Sales in the first quarter increased to 4.167 billion euros from 3.918 billion euros last year, driven primarily by growth in the Diagnosis & Treatment businesses.

The company said its Diagnosis & Treatment businesses’ comparable sales increased by 15% in the quarter, with double-digit growth in Ultrasound and Image-Guided Therapy, and mid-single-digit growth in Diagnostic Imaging, driven by continued supply chain
improvements.

Philips reported a loss 663 million euros or 0.75 euros per share from continuing operations for the first quarter, wider than loss of $152 million euros or 0.17 euros per share a year ago.

Excluding one-time items, the company reported earnings from continuing operations of 0.22 euros per share.

PHG is at $21,76 currently. It has traded in the range of $11.75-$26.99 in the last 1 year.

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