Siemens ended its financial quarter with a net loss for the first time in 12 years. The company reported a loss of 1.5 billion euros. A quarter of this amount is a loss due to Russia leaving.
Information on the losses incurred for the third financial quarter of Siemens reflected in the report.
If the third quarter of 2021, Siemens worked with a profit of 1.5 billion euros, the same quarter of the current year ended with a loss of 1.5 billion euros. The exit from the Russian market cost the company 400 million euros. 2,700 million euros that Siemens canceled.
At the same time, Siemens’ quarterly revenue grew, beating analysts’ expectations. For three months, the German corporation earned 17.9 billion euros, showing an increase of 11% compared to the same period last year.
Judging by Siemens’ stock listings, the company’s report did not disappoint investors. The corporation’s shares fell 1% in price, but then recovered the decline and, according to current data at the time of publication, show a daily rise of 0.9%.
Author:
Kirill Bilyk
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
