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The Dutch electronics group Philips cut its opening volume by 9.9% on Monday after showing surprisingly weak results for the third quarter.
At 9:10, the stock fell slightly, down 7%.
Philips' adjusted ebita profit for the third quarter was 568 million euros, which was lower than the average estimate calculated by Philips for the report, which was based on an adjusted profit from the company. ebita of 584 million euros.
Revenues for the quarter amounted to 4.3 billion euros, compared to 4.36 billion euros.
The comparable sales growth was 4%, which is also lower than the average estimate of + 5.4%.
Philips has also repeated its financial targets for the period 2017-2020, although the company is aware of the challenges ahead.
In an interview with Bloomberg TV, CEO Frans van Houten said "the momentum is strong," referring to the company's strong order intake, which rose 11% on a comparable basis in the third quarter.
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