Siemens reported soft Q2 results, partly due to the Coronavirus outbreak, while Digital Industries beat expectations despite the continuous hit in short-cycle business. Siemens is also accelerating its cost savings programme and has announced further savings for 2021. FY20 revenue guidance was revised downwards and the EPS target suspended.
08 May 2020
COVID-19 not fully reflected in Q2, higher cost savings announced
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COVID-19 not fully reflected in Q2, higher cost savings announced
Siemens Aktiengesellschaft (SIE:WBO) | 0 0 0.4% | Mkt Cap: 93,908m
- Published:
08 May 2020 -
Author:
Luis Pereira -
Pages:
4
Siemens reported soft Q2 results, partly due to the Coronavirus outbreak, while Digital Industries beat expectations despite the continuous hit in short-cycle business. Siemens is also accelerating its cost savings programme and has announced further savings for 2021. FY20 revenue guidance was revised downwards and the EPS target suspended.