Shares of Philips Electronics NV were gaining around 12 percent in the morning trading in Amsterdam after the Dutch consumer electronics giant reported Monday higher adjusted EBITA and sales in its first quarter, and said it is confident for fiscal 2023. Net loss, meanwhile, was wider than last year as it set aside a significant litigation provision related to the anticipated resolution of the Respironics recall in the U.S.
Roy Jakobs, CEO of Royal Philips, said, "Looking ahead, based on our solid performance in the quarter, our order book, and the ongoing actions to further improve execution, we are confident in our plan for the year 2023, acknowledging that uncertainties remain."
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.