Siemens Shares Hit Record High
The German engineering group posts better-than-expected first-quarter earnings.
Siemens (SIEGY) shares hit a record high on Wednesday after the German engineering group posted better-than-expected first-quarter earnings and lifted its 2017 forecasts.
The company said it expects its 2017 profit margin to be in the 11% to 12% range, with earnings per share for the full year in the range of €7.20 to €7.70. Siemens said profits at the industrial group came in at €2.51 billion for the three months ending in December, its fiscal first quarter, well ahead of the Thomson Reuters forecast of €2.14 billion.
CEO Joe Kaeser said, "I am proud of my global Siemens team that has been working hard and has delivered convincing success."
