7/26, 7:02 AM (Source: TeleTrader)
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Philips: Q2 sales grow 6% YoY to €4.2 billion

Philips N.V. revealed on Monday that its sales amounted to €4.23 billion in the second quarter of fiscal 2021, rising 6% compared to the corresponding trimester in 2020.

Net income declined 27% year-over-year €153 million in the second three-month period. The company's diluted income from continuing operations attributable
to shareholders stood at €0.07, down 67% from €0.21 recorded in the second quarter of 2020, while income from operations dropped 59% to €85 million.

"Confident in our strategy and financial trajectory, we are launching a new share buyback program of EUR 1.5 billion in line with our balanced capital allocation policy," CEO Frans van Houten announced.

Breaking the News / MS