Philips Misses Estimates on Lighting, Health Revenue Woes
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Royal Philips Electronics NV reported first-quarter profit that missed analysts’ estimates on declining sales at its lighting and health-care businesses.
Earnings before interest, taxes, amortization and one-time items were 421 million euros ($550 million), the world’s largest lighting manufacturer said today. The average estimate of 14 analysts in a Bloomberg survey was for 441 million euros. The stock dropped as much as 3.1 percent in Amsterdam trading.