Siemens Q2 Profit, Orders Climb; Lifts FY21 Forecast - Quick Facts

Germany's Siemens AG (SIEGY.PK,SMAWF) reported Friday that its second-quarter net income surged to 2.39 billion euros from last year's 697 million euros. Basic earnings per share were 2.82 euros, higher than 0.80 euro a year ago.

On a continuing operations basis, income was 1.52 billion euros, up 53 percent from 992 million euros a year ago.

Revenue grew 6 percent to 14.67 billion euros from last year's 13.78 billion euros. On a comparable basis, revenues were up 9 percent.

Orders increased 8 percent to 15.88 billion euros. Orders grew 11 percent on a comparable basis.

Looking ahead for fiscal 2021, the company raised outlook for net income to the range of 5.7 billion euros to 6.2 billion euros, well above the previous expectation of net income in the range of 5.0 billion euros to 5.5 billion euros.

The company also raised expectation for comparable revenue, net of currency translation and portfolio effects, to growth of 9 percent to 11 percent, above previously given range of mid- to high-single-digit growth.

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