Philips fourth-quarter core profit up 7% on continued strong COVID-19 demand
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AMSTERDAM - Dutch health technology company Philips on Monday reported a 7% increase in fourth-quarter core earnings as the coronavirus pandemic continued to spur demand for hospital equipment needed to treat COVID-19 patients.
Philips said adjusted earnings before interest, taxes and amortisation (EBITA) increased to 1.14 billion euros ($1.39 billion) in the October-December period, with comparable sales up 7% at 6 billion euros.
Analysts polled by the company on average had expected core earnings of 1.12 billion euros on 5.91 billion euros of sales.
