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Siemens achieves highest ever quarterly profit
6 Aug
Summary
- Siemens reported record quarterly industrial profit and new orders.
- The company raised its full-year profit guidance significantly.
- Industrial profit rose 25% to €3.52 billion, exceeding forecasts.
Siemens has reported a record-breaking quarter, achieving its highest-ever industrial profit and new orders. The German industrial conglomerate's financial performance for the three months ending June 30 surpassed analyst predictions.
Industrial profit saw a substantial 25% increase, reaching €3.52 billion, up from €2.82 billion in the previous year. This significant growth outpaced the forecasted €3.18 billion.
Revenues climbed 7% to €20.79 billion, also exceeding expectations, while orders experienced a 13% surge to €27.90 billion, marking another record.
In light of these strong results, Siemens has upwardly revised its full-year profit outlook. The company now anticipates earnings per share to fall within the range of €11.20 to €11.50.
