German electronics maker Siemens reported a 31 percent increase in fiscal first-quarter profit Wednesday but warned that the current economic slowdown will cause sales to drop over the rest of the year. Excluding onetime gains, profit rose to $723 million (778 million euros), compared with $552.5 million in the same period a year earlier.
Revenues increased 22 percent to $19 billion, compared with $15.5 billion in the same period a year earlier. Siemens cautioned that sales will suffer this year because of an economic slowdown and the declining value of the dollar against the euro. But the company added that its performance will outpace the industry average and its earnings will grow faster than sales.
The Matrix remembered at 20: Two decades on, share your own memories of the 1999 sci-fi action movie.
Captain Marvel a soaring tale of self-discovery with a '90s riff: The first female-led Marvel movie subverts superhero tropes in the best possible way.
Discuss: Siemens' profits grow
Be respectful, keep it civil and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.