August 2, 2018 / 5:02 AM / 13 days ago

Siemens Q3 industrial profit slightly beats expectations

MUNICH, Aug 2 (Reuters) - Siemens reported a slightly better-than-expected industrial profit during its fiscal third quarter on Thursday as the German engineering group unveiled its new strategy with a trimmed-down number of divisions.

The turbines-to-trains-maker said its industrial profit rose 2 percent to 2.21 billion euros ($2.57 billion) in the three months to the end of June, just ahead of an average forecasts for 2.18 billion in a Reuters poll of analysts.

Revenue fell 4 percent to 20.47 billion euros, missing expectations of 20.73 billion euros, while orders increased 16 percent to a better-than-expected 22.8 billion euros. ($1 = 0.8586 euros) (Reporting by John Revill Editing by Maria Sheahan)

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