Philips first-quarter core profit jumps 74% on strong demand amid pandemic
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AMSTERDAM - Dutch health technology company Philips on Monday beat analysts' expectations with a 74% jump in first-quarter core earnings to 362 million euros ($438.27 million), as demand for hospital equipment needed to treat COVID-19 patients remained strong.
Analysts polled by the company on average had expected adjusted earnings before interest, taxes and amortisation (EBITA) to rise to 326 million euros in the January-March period, following a 208 million euros result a year earlier.
