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Philips -3.5% premarket as profit misses estimates

Oct. 20, 2014 4:50 AM ETKoninklijke Philips N.V. (PHG) StockPHGBy: Yoel Minkoff, SA News Editor
  • Philips (NYSE:PHG) reports a net loss of €104M for the quarter ending Sept. 30, compared with a €282M net profit in the same period in 2013.
  • The Dutch technology company missed analyst estimates due to several factors, including unfavorable exchange rates, sluggish demand in Europe and China, and the continued fallout from sanctions against Russia.
  • Philips' results were also hit by a $467M charge after losing a legal battle to Masimo, which accused Philips of infringing on tech patents.
  • PHG -3.5% premarket

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