Philips Result 26/10/15

Philips reported a net profit for Q3 2015 of €324 million, compared to a net loss of €103 million YoY. Turnover was up to €5.8 billion ($6.5 billion) YoY, aided by strong sales in North America, which grew 6%. Consumer Lifestyle revenues increased by 12%, the division responsible for consumer products, including TVs, to €1.25 billion ($1.4 billion), a division which also fueled the turnaround in financial results.