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

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