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World Business

Siemens Q2 profit up 48% to $1.97b

(Agencies)
Updated: 2010-04-29 16:10
Large Medium Small

BERLIN: German conglomerate Siemens AG says its net profit for the second quarter increased 48 percent and it is raising its outlook for 2010.

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The company that makes everything from trams to turbines said Thursday that net profit rose to 1.49 billion euros ($1.97 billion) in the January-March period compared with 1.01 billion euros a year earlier, led by its health care, industry and energy sectors.

Revenues, however, slipped 4 percent to 18.2 billion euros from 18.9 billion euros a year earlier, a dip Siemens blamed on single digit declines in its energy and industry sectors.
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