“Despite the severe global crisis, we delivered strong operating performance, ” chief executive officer Joe Kaeser said in a statement.
FRANKFURT: Siemens AG’s operating profit rose in the third quarter as Europe’s largest engineering company dealt with the coronavirus crisis better than expected.
Adjusted earnings before interest, taxes and amortisation from its industrial business climbed 8% to 1.79 billion euros thanks to cost savings and a one-time reevaluation at its software division, it said Thursday. That beat analysts’ average estimate of 1.2 billion euros.
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