Siemens Healthineers Outlook Clouded by Chinese Policy Hit

Siemens Healthineers AG pared back its outlook for revenue growth, blaming a cost-cutting push by the Chinese government for hurting sales in its diagnostics unit.

The German medical equipment maker now expects annual revenue growth of as much as 5%, down from a previous outlook of as high as 6%. Revenue in the second quarter was €5.7 billion ($6.7 billion), slightly below a company-compiled consensus forecast.