Philips shares fall after Q4 profit misses estimates
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Paris
ROYAL Philips shares dropped after fourth-quarter profit missed estimates as a weaker dollar ate into earnings.
Adjusted earnings before interest, taxes and amortisation rose 9 per cent to 884 million euros (S$1.4 billion), the maker of medical scanners said in a statement on Tuesday. That missed the average estimate of analysts surveyed by Bloomberg of 898.2 million euros.
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