Energy and automation giant Siemens Wednesday posted a stronger-than-expected growth in revenue for the third quarter of the fiscal year 2007-2008.
Its revenue jumped 10 percent to 19.2 billion euros (30.0 billion U.S. dollars), higher than the market expectation of 18.6 billion euros (29.0 billion dollars).
Meanwhile, operating income for the quarter also exceeded market expectation to reach 2.05 billion euros (3.2 billion dollars).
Siemens said the positive revenue and profit figures are a result of strong increase in the need for energy equipment in China and Russia. As the world's major wind turbine supplier, it also got many orders from Europe and the United States.
As orders are strong for the quarter, which grew by 21 percent to 23.7 billion euros (36.97 billion dollars), Siemens CEO Peter Loescher predicted a 20-percent rising for revenue in the next fiscal year.
The result buoyed Siemens stock, which rose 5.78 percent Wednesday in the biggest surge since March.
Source:Xinhua
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