Siemens AG announced on Thursday that its revenue in the third quarter of the fiscal year 2023 saw an annual rise of 10% to come in at €18.9 billion.
The company's net income rose to €1.4 billion, compared to a €1.5 billion net loss a year before, translating to €1.61 diluted profits per share (EPS). Third-quarter orders jumped 15% compared to the corresponding time frame the year before, reaching €24.2 billion. However, orders in China declined by 35% to €1.6 billion in the reported trimester.
"We again achieved profitable growth and showed our competitive strength across all our businesses. We have seen a normalization of demand, particularly in China and in short-cycle business," Chief Executive Officer Roland Busch commented.
