💨 Abstract

Siemens reported a 7% drop in profit for its industrial business in Q3 2023, attributing it to geopolitical risks such as trade conflicts and weak consumer demand. The company anticipates slightly lower sales growth next year, with a projected revenue increase of 3-7% for its next financial year, down from its previous goal of 4-8%. The decline in profit and sales growth forecast is due to economic uncertainties.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖