Philips, the Amsterdam-based health technology company, credits its 12 percent rise in core profits to a 4 percent sales increase driven by its Chinese markets, according to third quarter financial results released Monday.
Here are four things to know.
1. Philips reported $4.88 billion (€4.15 billion) in sales during the third quarter of fiscal year 2017, down from $4.89 billion (€4.16 billion) one year prior.
2. The company noted $497 million (€423 million) in net income, up from $450 million (€383 million) one year prior.
3. Philip's budding personal health businesses brought in $1.94 billion (€1.65 billion) in sales, representing a 5 percent increase from the quarter prior but a 1 percent decrease from one year prior.
4. In the third quarter, the number of employees at Philips was reduced by 8,729. Specifically, in the period from January to September there were 106,745 people employed at Philips, compared to 115,474 people employed from January to June.
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