Berlin: German engineering giant Siemens posted a better-than-forecast quarterly profit along with higher revenue on Thursday, despite a sharp slump in orders for its renewable energy unit as well as its gas businesses.
The Munich-based company said net profit rose 7 per cent to 1.46 billion euros ($1.73 billion) in its fiscal third quarter to the end of June compared with 1.37 billion in the same period last year.
Analysts had forecast a drop in third-quarter profit to 1.28 billion euros.
Revenues last quarter rose 8 per cent to 21.41 billion euros, falling just short of analysts’ forecasts of a 21.75 billion euro gain. — AFP
Oman Observer is now on the WhatsApp channel. Click here
