Siemens misses profit forecast as industrial business struggles - stock down 5.5%

Discussion in 'Stocks' started by Nighthawk, May 16, 2024.

  1. ZURICH (Reuters) - Siemens reported a drop in second quarter earnings at its industrial business, the German engineering group said on Thursday, after suffering a slowdown at its flagship factory automation division.

    The trains to industrial software maker said industrial profit fell 2% to 2.51 billion euros ($2.73 billion) during the three months to the end of March. The figure missed analyst forecasts for 2.68 billion euros in a company gathered consensus of analysts.

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    Short industrials across the board! :sneaky:
     
    murray t turtle likes this.