ZURICH (Reuters) -German engineering and technology company Siemens raised its profit guidance on Thursday for the third time this year on the back of a post-pandemic surge in demand. Siemens raised its profit guidance again after beating forecasts for sales, profit and orders. During the three months to the end of June, Siemens said adjusted operating profit at its industrial business rose 29% to 2.32 billion euros ($2.75 billion), beating the 2.09 billion euros in a company-gathered consensus of analyst forecasts. Revenue rose 24% to 16.09 billion euros, while orders surged 47% to 20.49 billion euros, both beating forecasts. Net income for the year to the end of September is now expected to be in the range of 6.1-6.4 billion euros.


Source:   The Star
August 05, 2021 08:48 UTC