Siemens third-quarter industrial profit slightly beats expectations

MUNICH (Reuters) - Siemens reported a slightly better-than-expected industrial profit during its fiscal third quarter on Thursday as the German engineering group unveiled its new strategy with a trimmed-down number of divisions.

The turbines-to-trains-maker said its industrial profit rose 2 percent to 2.21 billion euros ($2.57 billion) in the three months to the end of June, just ahead of an average forecasts for 2.18 billion in a Reuters poll of analysts.

Revenue fell 4 percent to 20.47 billion euros, missing expectations of 20.73 billion euros, while orders increased 16 percent to a better-than-expected 22.8 billion euros.

($1 = 0.8586 euros)