Philips Posts Best Quarterly Results in Four Years
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Often pigeonholed as just a seller of televisions and DVD players, Royal Philips Electronics said third-quarter profit surged despite a slide into the red by its consumer electronics division.
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Fourth-quarter earnings surged on higher revenue as the photo film manufacturer staked out a bigger position in digital photography.
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Sony said its profit rose in the final three months of 2007, aided by robust sales of televisions and computer games.
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Earnings season is in full swing, and results this week from bellwethers like Google, Intel, and Nokia are fueling hopes for a strong fourth quarter while confirming the investor confidence that has led to a rebound in share prices of technology vendors.
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Profit soared at technology conglomerate Philips Electronics NV in the third quarter but sales of consumer electronics were weak and the outlook for computer chips is gloomy, the company said.
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The medical-device maker puts in a nice quarter despite its recent recall trouble.
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Anheuser-Busch Cos Inc  on Monday reported fourth-quarter sales that were better than some analysts expected, helped by the addition of foreign brands to its portfolio, sending its shares up 4 percent.
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European stocks were steady on Thursday  amid results from key firms such as Philips which beat earnings  estimates but gave a cautious outlook, while Siemens also  reported higher-than-expected profits.
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Eli Lilly and Co  on Tuesday said fourth-quarter profit rose on lower taxes and better-than-expected sales of its medicines, including newer treatments for depression, diabetes and cancer.
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The toolmaker's great fourth quarter adds to an impressive run of EPS growth.
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The company posted fourth-quarter profit of $414.9 million, helped by growth in emerging markets and the weaker dollar.
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Third-quarter profits at Koninklijke Philips Electronics NV surged on one-time gains from stakes sold in two companies floated on the capital market, Europe&#39;s largest consumer electronics maker said Tuesday in a statement.
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Dutch electronic's giant Philips said Monday it had raised 980 million euros (1.45 billion dollars) from the sale of 800 million shares in the world's largest chip foundry, Taiwan Semiconductor Manufacturing Company (TSMC).
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Flat screen maker LG.Philips LCD Co Ltd  reported its highest ever quarterly profit on Monday and predicted even better profits for 2008, but voiced concerns over a potential return to oversupply in early 2009.
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Royal Philips Electronics said net profit rose to $2.16 billion in the second quarter on the sale of its stake in a Taiwanese semiconductor company, but that exchange rates hurt sales.
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Eli Lilly and Co  on Tuesday said fourth-quarter profit rose on lower taxes and better-than-expected sales of its medicines, including its newer treatments for depression, diabetes and cancer.
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The consumer electronics retailer continues to produce strong results.