Philips posts slight sales decrease in Q1

Philips Healthcare posted a slight decrease in sales for the first quarter of 2024, as well as a higher net income loss.

For the first quarter (end-March 31), Philips posted revenues of 4.1 billion euros ($4.4 billion U.S.) down from 4.2 billion euros ($4.5 billion) for the same period last year.

The company sustained a net loss of 998 million euros ($1.1 billion), compared with a loss of 665 million euros ($713 million), in the first quarter of 2023.

Its Diagnosis and Treatment segment, however, did see a sales increase of 3%, with growth in Image Guided Therapy and Precision Diagnosis, Philips said.

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