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Philips Earnings Beat Estimates on Jump in Medical Orders

  • CEO says deal for LumiLeds may come in the second half
  • Quarterly margins in healthcare widened by 100 basis points
Bloomberg business news

Lumiled Casts Shadow on Philips’ Q4 Profit Beat

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Royal Philips NV’s profit rose more than estimated on growth in medical equipment, helping Chief Executive Officer Frans van Houten bolster his case for exiting the lighting-gear business that is the foundation of the 125-year-old Dutch company.

Demand in China and North America for body scanners helped drive up quarterly orders by 15 percent at comparable exchange rates, almost double the pace Siemens AG registered in the same three months through December. Adjusted earnings before interest, taxes and amortization rose 13 percent to 842 million euros ($913 million), the Amsterdam-based company said in a statement Tuesday. Analysts predicted 798 million euros.