SIEGY - Siemens Says Earnings Beat By a Wide Margin on China Growth

Siemens ([[SIEGY]] +3.4%) shoots higher after reporting preliminary FQ1 operating results it says were "significantly above market expectations," driven by a strong performance in its digital division and better than expected growth in China.The company says quarterly sales in its Digital Industries unit rose 5% Y/Y to €3.765B ($4.58B), ahead of analysts consensus for €3.56B, while adjusted EBITDA totaled €848M.FQ1 sales in the Smart Infrastructure unit increased 4% Y/Y to €3.48M with adjusted EBITA of €391M, both ahead of consensus.However, the mobility unit missed expectations, with revenue of 2.19B and adjusted EBITDA of 219M.Siemens is "well-diversified, has conservative leverage, strong credit ratings and a healthy dividend," Thomas Gagan writes in a bullish analysis posted recently on Seeking Alpha.

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Siemens Says Earnings Beat By a Wide Margin on China Growth