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Siemens Posts Downbeat FQ3 Profit

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Siemens AG (NYSE: SI) posted a weaker-than-expected FQ3 profit.

The company's quarterly net profit came in at 823 million euros ($996 million), versus analysts' estimates of EUR1.32 billion. Siemens' revenue surged 10% y/y to EUR19.5 billion, beating analysts' estimates of EUR18.95 billion.

Its new orders dropped 23% to EUR17.8 billion, versus analysts' estimates of EUR19.86 billion.

Siemens shares closed at $82.39 yesterday.

Posted-In: profitEarnings News


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