Siemens CEO Says Company is 'Back on the Growth Path'

Siemens AG, Europe’s biggest engineering company, raised its earnings outlook for the second time this year after posting higher-than-expected third-quarter profit and a jump in large orders for power-generating equipment. Profit from so-called industrial operations rose 20 percent to 2.19 billion euros ($2.44 billion) in the three months through June, the Munich-based company said Thursday in a statement. Analysts had predicted an average of 2.09 billion euros, according to a Bloomberg survey. The profit margin was 10.8 percent, at the higher end of the 10 percent to 11 percent range forecast for the full year. “We are clearly back on a growth path,” even though the market environment hasn’t been great, Chief Executive Officer Joe Kaeser said in an interview with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."

Hyperloop One Completes Phase 2 of Testing
19:24 - Shervin Pishevar, Hyperloop One co-founder, and Josh Giegel, president of engineering, discuss the high-speed transportation company's completion of its second phase of testing. They speak with Bloomberg's Emily Chang on "Bloomberg Technology." (Source: Bloomberg)
  • Jacobs Engineering CEO on Saudi Aramco Joint Venture
  • How Google Is Improving AI Technology
  • Full Show: Bloomberg Technology (05/10)