© Reuters. FILE PHOTO: Logo of Dutch technology company Philips is seen at company headquarters in Amsterdam, Netherlands, January 29, 2019. REUTERS/Eva Plevier/File
AMSTERDAM (Reuters) – Dutch health technology company Philips on Monday said first-quarter core profit dropped about a third from a year prior to 243 million euros ($261.8 million), hit by an ongoing global shortage of parts and a massive recall of ventilators.
Analysts polled by the company had expected adjusted earnings before interest, taxes and amortisation (EBITA) to fall to 236 million euros on average in January-March, from 362 million euros in the same period a year earlier.
($1 = 0.9281 euros)
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