Siemens Posts Rise In Q2 Profit, Plans To Lower Another 4,500 Jobs

German company

reported a rise in its net profit for the fiscal second quarter and announced its plans to lower another 4,500 jobs worldwide. Siemens posted a quarterly net profit of EUR3.89 billion ($4.41 billion), versus a year-ago profit of EUR1.12 billion. EPS climbed to 4.65 euros from 1.32 euros. Its revenue gained 8 percent to EUR18.05 billion, compared to EUR16.7 billion. New orders rose 16 percent to EUR20.75 billion. Its income from continuing operations rose 77 percent to 2 billion euros in the quarter, while industrial business profit slipped 5 percent to 1.7 billion euros. The company reiterated its 2015 outlook. Siemens shares gained 2.06 percent to close at $109.75 yesterday.