Monday, January 30, 2023

Philips Posts Q4 Loss, Plans 6,000 Job Cuts, Sees Growth Ahead; Stock Up

Dutch consumer electronics giant Philips Electronics NV reported Monday a loss in its fourth quarter, compared to prior year's profit, even as sales increased. The company further declared a dividend, and said its order book remains strong. Going ahead, the company projects comparable sales growth in fiscal 2023, 2025, and beyond.

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