Advertisment

Siemens Q1 net $476.1m, beats forecast

author-image
CIOL Bureau
Updated On
New Update

FRANKFURT: Siemens AG on Wednesday posted a first quarter net profit of 538

million euros ($476.1 million), including a gain of 157 million related to its

interest in Infineon Technologies, exceeding analyst forecasts.

Advertisment

It posted earnings before interest, tax and amortisation (EBITA) of 487

million euros.

Sales, excluding Infineon, rose seven per cent to 20.496 billion euros from

the period a year earlier, while orders rose 12 per cent to 24.926 billion.

Analysts polled by Reuters had forecast an average net loss of 66 million

euros but the range of estimates was wide. EBITA was forecast to be 180 million

euros from a loss of 130 million euros, while sales were seen at 20.81 billion

euros.

Advertisment

(C) Reuters Limited.

tech-news