Philips Beats Estimates Thanks to Healthcare and Lighting Sales

Published Tue, Jul 24th, 2012   Wall Street Daily Research

After reporting a second-quarter loss of $1.8 billion in 2011, Philips’ (NYSE: PHG) CEO, Frans Van Houten, was optimistic about the company’s outlook.

Well, it looks like his optimism has paid off…

Sales this quarter jumped 5% to $7 billion, with net profit reaching $201 million. Sales from the company’s healthcare and advanced lighting technologies drove much of this quarter’s increase.

As Van Houten says, “We have confidence that we are on the path to realizing our mid-term targets for 2013. It doesn’t mean it’s a walk in the park – we still have a lot to do. But let’s not forget the strategic positioning of Philips in markets of healthcare, energy efficient lighting… are very relevant to the emerging economies where people still have some catching up to do in these key areas.”

But it’s not all rosy for Philips going forward…