- Siemens' (SI) FQ1 net profit climbed 20% to €1.46B ($1.99B) after the year-earlier figure was dragged down by special charges.
- Revenue dropped 3% to €17.325B.
- Income from continuing operations +21% to to €1.39B, topping forecasts of €1.33B.
- Total sectors profit +15% to €1.79B, "highlighted by a strong performance in Infrastructure & Cities." Consensus was for €1.86B.
- New orders at continuing operations rose 9% to €20.83B, due mainly to large contracts for trains and wind turbines.
- Siemens reiterates that it expects growth of 15% in 2014 EPS.
- Development and demand in emerging markets were still "pretty strong" despite a 4% fall in sales in those regions, CEO Joe Kaeser says, adding that he wouldn't be too surprised if there was to be "an uptick in China's economy" soon. (PR)
- Siemens intends to delist its American Depositary Receipts from the New York Stock Exchange in order to cut costs and lower the complexity of its financial reporting. (PR)