August 1, 2019 / 5:08 AM / 4 months ago

Siemens says industrial environment has deteriorated

MUNICH, Germany, Aug 1 (Reuters) - Siemens said it was seeing a weaker environment in many of its key markets as the German industrial company on Thursday reported a 6% drop in profit during its third quarter.

The trains to turbines maker reported net profit of 1.14 billion euros ($1.26 billion) for its third quarter, down from 1.21 billion euros a year earlier and missing analyst expectations of 1.18 billion euros in a poll compiled by the company.

Despite the downturn, which particularly hit its industrial business - making products like factory controllers for automative companies - Siemens confirmed its full year outlook “even though it becomes more challenging to achieve our expectation of moderate growth revenue, net of currency translation and portfolio effects.” ($1 = 0.9055 euros) (Reporting by John Revill Editing by Michelle Martin)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below