Siemens posted better-than-expected adjusted operating profit from its industria...
MUNICH - Siemens posted better-than-expected adjusted operating profit from its industrial business during its second quarter as the German industrial giant began separating and spinning off its struggling power and gas business.
Revenue rose 4 percent to 20.94 billion euros, matching estimates, while orders rose 6 percent to 23.61 billion euros. Siemens is leaving behind the business where revenues and profit have collapsed due to plummeting demand and cut-throat competition from rivals including Mitsubishi Heavy Industries and General Electric Co.
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