Philips says Q3 core profit to drop 60% as supply chain problems persist

2022.10.12 01:41

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Philips says Q3 core profit to drop 60% as supply chain problems persist

Budrigannews.com – Dutch health technology company Philips said on Wednesday its third-quarter core profit would drop around 60% as supply chain problems would continue to hit sales throughout the year.

The company also said it expected to take a charge of 1.3 billion euros ($1.26 billion) on the goodwill of its sleep and respiratory care business, which has been plagued by the fallout of a massive recall of machines used to treat sleep apnea.

($1 = 1.0298 euros)

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Philips says Q3 core profit to drop 60% as supply chain problems persist