You are here

Philips drops 2020 outlook as coronavirus hits Q1 earnings

Philips said earnings before interest, taxes and amortisation (EBITA) dropped 33 per cent from a year earlier in the first quarter to 244 million euros (S$377 million), while comparable sales declined 2 per cent to 4.15 billion euros.

[AMSTERDAM] Dutch health technology company Philips on Monday dropped its outlook for the rest of the year, as the global coronavirus outbreak took a large bite out of its first-quarter earnings while the second quarter was set to be even worse.

Philips said earnings before interest,...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to