German engineering and technology group Siemens on Thursday posted solid second-quarter results despite global economic uncertainties, with both revenue and profit rising.
Net income for the January-March quarter climbed about 11% to €2.4 billion ($2.8 billion), while revenue rose 7% to €19.8 billion.
Chief Financial Officer Ralf P. Thomas confirmed the outlook for the full fiscal year.
The company's smart infrastructure division saw its earnings rise nearly two-thirds, partly boosted by a gain from the sale of a smaller business unit. The gain more than made up for a decline in the digital industries segment, which includes Siemens' troubled automation business.
The automation segment showed signs of recovery, after recently struggling as customers and distributors worked through high inventory levels instead of placing new orders.
This inventory reduction has reportedly approached its end in China, where order intake picked up again in the quarter. Orders in Germany, however, fell considerably.
In March, Siemens announced plans to cut around 6,000 jobs worldwide by September 2027, including 2,850 in Germany, with most of the reductions affecting the automation division.