Philips (PHG) posts a Q4 net profit of €465M ($630M) vs. €532M consensus, and sales of €7.392B...

|By:, SA News Editor

Philips (PHG) posts a Q4 net profit of €465M ($630M) vs. €532M consensus, and sales of €7.392B vs. €7.56B consensus. Sales were hurt by "negative consumer sentiment in developed markets" and continued destocking. Philips expects consumers in mature markets will remain reluctant to spend. Shares -6.8%.