Siemens Posts Lower Profit
Siemens AG (NYSE: SI) reported a drop in its first-quarter profit.
Its quarterly net profit dropped to 1.2 billion euros (($1.6 billion), from 1.37 billion euros, in the year-ago period.
Its revenue climbed 2% to 18.13 billion euros, while operating profit rose 4% to 1.7 billion euros.
Siemens' orders in the quarter declined 3%.
Siemens shares closed at $112.40 yesterday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.