Philips Was Hit by a Lot of Headwinds in 2Q, CEO Says

Philips Was Hit by a Lot of Headwinds in 2Q, CEO Says

25 Jul    Finance News

Royal Philips NV Chief Executive Officer Frans Van Houten discusses the company’s financial results, strategy and outlook. The Amsterdam-based maker of medical gear lowered its sales guidance as inflationary pressures and supply chain troubles led it to miss earnings estimates in the second quarter. On top of supply chain struggles, Philips faces about 300 court cases following product issues over noise-dampening foam inside ventilators that treat sleep apnea. Van Houten speaks with Anna Edwards and Manus Cranny on “Bloomberg Daybreak: Europe.” ——–
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