World Business

Siemens Q2 profit up 48% to $1.97b

(Agencies)
Updated: 2010-04-29 16:10

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

Related readings:  Siemens to cut 2,000 posts at factories  Siemens inks green deals worth 2b yuan   Siemens to pursue wind power tech for growth   Siemens introduces education campaign

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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