Philips' Shares Surge Despite Legal Troubles and Revenue Beat.

Philips reported a 6% YoY growth in Q1 FY23 comparable sales to €4.2 billion, driven by the Diagnosis & Treatment businesses and momentum in China. The order book remains strong and is 10% higher than one year ago. The adjusted EBITA margin expanded by 240 bps to 8.6%. Despite a decline in Personal Health businesses, the company recorded double-digit growth in Image-Guided Therapy and Enterprise Diagnostic Informatics and mid-single-digit growth in Diagnostic Imaging. Philips Respironics earmarked €575 million related to the anticipated resolution of the Respironics recall-related economic loss class action in the U.S.