Koninklijke Philips Electronics is a global leader in health technology, focused on improving people's lives through meaningful innovation
The company develops a wide range of products and solutions, including medical devices, diagnostic imaging, patient monitoring systems, and consumer health products. Its commitment to enhancing healthcare and well-being extends into areas such as personal health, connected care, and sustainable development, aiming to deliver integrated solutions that empower both health professionals and patients. Philips combines advanced technologies with deep clinical and consumer insights to create solutions that drive better outcomes and improve the quality of care across various settings.
Philips Q4 earnings missed estimates as sales hit €5.04 billion. The company raised its 2023-2025 savings target to €2.5 billion and expects 2025 sales growth of 1%-3%.
Philips recalls 90,905 ventilators globally due to software malfunctions affecting patient safety. The FDA warns of serious injury or death if devices are not corrected swiftly.
The Dow Jones Industrial Average is 96 points lower today, pulling back from Friday’s 654-point pop, while the S&P 500 Index and Nasdaq Composite Index sit quietly in the red as well.
Philips shares rose after Q2 2024 results exceeded expectations with €4.46 billion in sales and a 9% increase in order intake. Growth in Diagnosis & Treatment, Connected Care, and Personal Health segments contributed to improved EBITA margins. CEO Roy Jakobs cited strong margins and cash flow improvements.
