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Siemens Raises Outlook as Renewables, Digital Provide Boost

  • CEO says strong first quarter led to improved margin outlook
  • Executives caution about future orders amid deferred projects
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Siemens AG raised its full-year outlook after renewable energy projects and digital services led to better-than-expected first-quarter profit even as Europe’s biggest engineering company said orders are starting to weaken.

The German company improved expectations for its industrial business profit margin and for earnings per share, according to a statement. The shares got their biggest boost in more than two months.