Philips Q2 revenue is expected to continue to improve in the second half of 5.86 billion euros
Royal Philips NV announced its second-quarter earnings report on Monday. Thanks to the cost-effectiveness of the festival, Philips not only made better-than-expected profits in the quarter, but also expected to continue to improve in the second half of the year.
Philips' adjusted earnings before interest, taxes and depreciation increased 8.6% year-on-year to 544 million euros ($596 million), better than analysts' average estimate of 519 million euros. Philips CEO Fransvan Houten said in a statement that the profit outlook for the second half of the year is still optimistic, but it remains concerned about the increase in uncertainty in several markets.
In the face of the enthusiasm of Chinese competitors, in addition to upgrading technology and strengthening product functions, Philips has also adopted various measures to maintain profitability and maintain profitability. Although Philips' revenue for the quarter fell from 5.97 billion euros last year to 5.86 billion euros, the net profit of distribution was raised from 0.3 euros to 0.46 euros. (Dow Jones)
After splitting the lighting business into an independent subsidiary, Lumileds, Philips is trying to expand its health services business on the one hand, and trying to resell LumiLEDs on the other. Despite the US's obstruction, the original sale of Lumileds to the Chinese capital GO Yuan Capital has been determined to be broken, but the idea of ​​Philips selling Lumileds has not changed.
According to Reuters news, Philips Lighting recently announced that its core profit increased by 16% in the second quarter and maintained its full-year financial results.
Philips Lighting's second-quarter revenue fell 6% to 1.7 billion euros, with adjusted interest, tax and amortization profit (EBITA) of 161 million euros. This is the first time the company has announced its results as an independent company.
Philips Lighting was spun off from Philips in May, and Philips holds a 70% stake in Philips Lighting.
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