Dutch healthcare tech company Phillips’ shares dropped 8% to its lowest level since 2012 after issuing its second profit warning this year, forewarning that...
Shares of Philips dropped 8% to their lowest level since 2012 after the Dutch tech company issued its second profit warning this year, forewarning that supply chain problems will impact sales and third-quarter profits.
In a financial update to investors posted on Wednesday, the Amsterdam-headquartered firm PHIA PHG explained that continued supply chain challenges were “more significant than anticipated in the quarter,” and have hit expected sales for the third quarter. The company said the reasons for the write down “include current assumptions regarding the estimated impact of the proposed consent decree and changes to the pre-tax discount rate.”
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