Siemens Q1 profit boosted by emerging markets

FRANKFURT: Siemens AG , a bellwether of Germany's economy, posted better-than-expected earnings in its first quarter, helped by robust demand from rapidly growing emerging economies.

Europe's biggest engineering conglomerate said on Tuesday net profit from continuing operations -- which excludes units to be spun off -- rose 17 per cent to 1.79 billion euros ($2.44 billion) in the three months to December, driven by businesses sensitive to economic swings.

Analysts in a Reuters poll had on average expected net profit from continuing operations to decline 3.7 per cent to 1.47 billion euros.

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