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Siemens Posts Lower Profit

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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.

Posted-In: profitEarnings News


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