12:02 PM EDT, 07/29/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

Philips (PHG) shares were up nearly 14% in recent Monday trading after the company reported higher adjusted earnings in Q2 and maintained its full-year comparable sales outlook.

The Dutch health technology firm reported Q2 adjusted earnings of 0.30 euros ($0.33) per diluted share, up from 0.27 euros a year earlier.

Two analysts polled by Capital IQ expected 0.30 euros.

Revenue for the quarter ended June 30 was 4.46 billion euros, compared with 4.47 billion euros a year earlier.

Four analysts surveyed by Capital IQ expected 4.45 billion euros.

For 2024, the company said it continues to expect comparable sales growth of 3% to 5%, as well as adjusted EBITA margin of 11% to 11.5%.

Price: 29.35, Change: +3.59, Percent Change: +13.94