- 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