Siemens Raises Forecasts

May 4, 2011
Q2 profit was $4.1 billion

Industrial giant Siemens reported on May 4 a healthy rise in net profit for its second quarter to the end of March and raised its earnings forecast for the current business year.

Second-quarter net profit was 2.8 billion euros (US$4.1 billion), up from 1.5 billion euros in the year-earlier period.

Sales rose 7% to 17.7 billion euros while orders surged 2% to 20.7 billion euros.

"We've achieved outstanding, broad-based order growth. We're raising our earnings forecast for fiscal 2011 to at least 7.5 billion euros," chief executive Peter Loescher said.

Copyright Agence France-Presse, 2011

See Also
Siemens Educates Future Plant Managers With Game

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!