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Philips Q4 earnings increase to $913 million

Staff writer ▼ | January 26, 2016
Philips reported earnings before interest, taxes, and amortisation came in at 842 million euros ($913 million) for the fourth-quarter.
Philips   The company expects modest comparable sales growth
This compares with 743 million euros in the same period a year earlier. Comparable sales increased by 2 percent to 7.1 billion euros.

The company reported a net loss of 39 million euros for the fourth quarter. CEO Frans van Houten said in a statement that the company expects "modest comparable sales growth" this year.

"Taking into account ongoing macroeconomic headwinds and the phasing of costs and sales, we expect improvements in the year to be back-end loaded."