Siemens Q3 Profit, Orders Surge; Raises FY21 Outlook - Quick Facts

Germany's Siemens AG (SIEGY.PK,SMAWF) reported Thursday that its third-quarter net income surged 177 percent to 1.48 billion euros from last year's 535 million euros.

Basic earnings per share were 1.68 euros, up 150 percent from 0.67 euro a year ago.

Revenue climbed 24 percent to 16.09 billion euros from last year's 12.98 billion euros. Revenues grew 21 percent on a comparable basis.

Orders increased 47 percent to 20.5 billion euros, driven by double-digit growth in all industrial businesses.

Orders surged 44 percent on a comparable basis, excluding currency translation and portfolio effects.

Further, the company raised fiscal 2021 net income outlook to the range from 6.1 billion euros to 6.4 billion euros, from previously expected 5.7 billion euros to 6.2 billion euros.

The company raised expectation for comparable revenue, net of currency translation and portfolio effects, to growth of 11 percent to 12 percent from previously expected growth of 9 percent to 11 percent.

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