Siemens experienced subdued demand in its automation business during the second fiscal quarter but was almost able to offset this through strengths in other areas. Despite the challenges, the company confirmed its annual forecast, but sees a challenge for the Digital Industries division, especially in China. The technology company's revenue fell by one percent to 19.2 billion euros, while the result of its industrial business dropped by two percent to 2.5 billion euros.

The management now anticipates a comparable decline in revenue for Digital Industries and forecasts revenue growth of four to eight percent for the entire fiscal year, with the increase likely to be at the lower end of the range. Profit fell by 38 percent to about 2.2 billion euros, influenced by a value adjustment at Siemens Energy in the previous quarter.

Finance Chief Ralf Thomas and Group CEO Roland Busch Point to Increased Order Backlog, Reaching Record 114 Billion Euros, and Express Optimism about Future Demand in Industrial Automation and Large Orders in the Software Business. For the Current Fiscal Year, Siemens Expects Earnings per Share of 10.40 to 11.00 Euros.

Siemens also announced its plan to sell its subsidiary Innomotics to the US investment firm KPS for 3.5 billion euros, exceeding analyst expectations. This move is part of Siemens' strategic portfolio optimization, which aims to focus on profitable core areas.

Siemens' Share Price Underwent a Correction After Reaching a Record High, Falling by 5.09 Percent in XETRA Trading. Analysts like Gael de-Bray of Deutsche Bank and Mark Fielding of RBC commented on the results as "subdued" and pointed out the disappointing profit performance, particularly in the Digital Industries division.