German engineering group Siemens reported on Thursday better-than-expected preliminary results for its fiscal first quarter, driven by a strong performance of its digital division.
The trains-to-factory software maker said it would review its outlook for fiscal 2021 when it publishes its first-quarter earnings in full on Feb. 3.
In November, Siemens gave a cautious outlook on its recovery from the COVID-19 pandemic, saying it expects government and company investment this year to lag the global rebound, forecasting moderate revenue and earnings improvement in 2021.
On Thursday, it said first quarter sales for its digital industries unit rose a comparable 5% to 3.765 billion euros ($4.58 billion), ahead of analysts consensus for 3.561 billion, while adjusted earnings before interest, taxation and amortisation (EBITA) came in at 848 million euros.
Its smart infrastructure division also did well, with revenue up a comparable 4% to 3.477 million euros and adjusted EBITA of 391 million, both ahead of consensus.
However, the mobility unit missed expectations, with revenue of 2.193 billion euros and adjusted EBITA of 219 million.
Latest Stories
-
Deteriorating dormitories and halls in WA SHS affecting teaching and learning – Headmaster
11 mins -
Kokomba warriors kill human-attacking antelopes
1 hour -
Pediatricians urged to support government in combating jaundice in newborn babies
1 hour -
Alleged assault on Citi FM journalists: Sit up and do the work for which you were elected – NDC to Akufo-Addo
1 hour -
Samson Lardy Anyenini speaks on alleged assault on Citi FM journalist by National Security operatives
2 hours -
Cameron Duodu: Sɛbe o, tafrakyɛ, na ‘Ɔte K’ɔkɔɔ Soɔ’ deɛ, yɛbɔ n’ano sɛn? – With all due respect, how can the occupant of the Golden Stool be silenced?
2 hours -
Denkyira Chiefs rally to fight illegal mining
2 hours -
African Ministers of Health endorse and support Africa Common Position on Covid-19 passport
2 hours -
Assault on Citi FM Journalists: Culture of impunity must be cured – Kweku Baako
2 hours -
Galamsey Fight: Samuel Abu Jinapor lauds efforts by NDC, NPP to stop the menace
3 hours -
DMX’s ‘Exodus’ album features joint collab with Jay-Z and Nas
3 hours -
Akufo-Addo to deliver 25th address on measures against Covid-19
3 hours -
Playback: Government addresses press on energy sector crisis
3 hours -
Francis-Xavier Sosu: Assault on journalists is reflection of Akufo-Addo’s regime of tyranny and intolerance
3 hours -
Peasant Farmers Association and MoFA engage farmers on PFJ guidelines
7 hours