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Philips beats quarterly profit estimates driven by higher sales, gross margin

By Reuters News

Nov 3 (Reuters) - Dutch healthcare technology manufacturer Philips PHG.AS beat market expectations for third-quarter core earnings on Tuesday, driven by higher sales and gross margin alongside productivity measures.

Philips, which sells products ranging from toothbrushes to medical imaging systems, reported a 7.2% rise in its adjusted earnings before interest, taxes and amortisation to €569 million ($637 million), exceeding a consensus estimate of €522 million provided on the company's website.

($1 = 0.8937 euros)

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