Philips: stock in a spin after preliminary report

(CercleFinance.com) - The Dutch stock Philips is in a spin today, down 7.
8% in Amsterdam, following a preliminary report for its third quarter, which has been marked by lacklustre order intake after a jump of 11% a year ago.

The group's adjusted EBITA is expected to be around 583 million euros, meaning a margin that is down 0.8 point to 12.4% for sales that are estimated at 4.7 billion euros, up 6% in comparable terms.

The company adds that its net income from continuing operations should be around 210 million euros, including a charge of 70 million euros related to goodwill impairment in connected care.


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