Monday, July 25, 2022

Philips Posts Q2 Loss, Updates FY22 View; Stock Down

Shares of Philips Electronics NV were losing more than 10 percent in the morning trading in Amsterdam as well as in pre-market activity on NYSE after the Dutch consumer electronics giant reported Monday a loss in its second quarter, compared to a profit last year, hurt by weak sales. Looking ahead, the company said it expects to resume growth from the third quarter onwards.

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