Home BusinessSiemens raises guidance after posting highest ever industrial profit

Siemens raises guidance after posting highest ever industrial profit

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ZURICH, Aug 6 (Reuters) – Siemens (SIEGn.DE), reported its highest ever quarterly industrial profit and new orders ​on Thursday, beating analyst forecasts and ‌prompting the German industrial group to raise its full year profit guidance.The company, whose products ​span trains to factory software and ​building control systems, saw improvements in ⁠most industrial businesses led by a sharp ​improvement at its Digital Industries factory automation ​unit.Siemens reported industrial profit rising 25% to €3.52 billion ($4.09 billion) for the three months ended June 30, ​its highest ever quarterly figure.The figure, ​up from €2.82 billion a year earlier, beat forecasts ‌for €3.18 ⁠billion in a company-gathered consensus of analyst estimates.Revenues meanwhile increased 7% to €20.79 billion, ahead of forecasts for €20.64 billion, while orders ​picked up ​13% to €27.90 ⁠billion, also its highest-ever quarterly figure.As a result, Siemens upped ​its full year profit outlook for ​the ⁠year to the end of September. It now expects earnings per share in the ⁠range ​of €11.20 to €11.50, up from ​its previous guidance for a range of €10.70 to €11.10.($1 = 0.8660 ​euros)

Reporting by John Revill Editing by Linda Pasquini.

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