Philips posts Q3 increases

Philips Healthcare parent company Royal Philips posted sales and net income increases for the third quarter of 2023.

For the third quarter (end-September 30), Philips posted revenues of 4.5 billion euros ($4.8 billion U.S.), up 5% from $4.3 billion euros ($4.4 billion) for the same period last year. The company attributed the increase in part to its diagnosis and treatment businesses, which saw a sales increase of 5%, from 2.1 million euros ($2.2 million) in 2022  to 2.2 million euros ($2.3 million) in 2023.

The company posted net income of of 90 million euros ($96 million) compared with a net loss of 1.3 billion euros ($1.4 billion) in the third quarter of 2022 that it reported.

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