Siemens Healthineers: shares jump after quarterly results
(CercleFinance.com) - Siemens Healthineers posted a better-than-expected 9% rise in its second-quarter net profit, to 414 million euros, due to strong demand for its computed tomography systems.
Computed tomography (CT) scanners are currently used to assess the severity of the impact on lungs in Covid-19 patients.
Comparable sales growth of 3.3% - which included a negative Covid-19 impact of about 4% - also beat expectations.
"Overall, our business has performed well in the second quarter despite the pandemic and growing economic turbulence around the globe," the German health technology group said.
Analysts at UBS said the quarterly figures were "more resilient than expected" while Germany's Berenberg pointed out a "good" quarter against "mixed" expectations.
In its quarterly statement, Siemens Healthineers said its outlook for the financial 2020 was no longer valid, adding that its fiscal third quarter was expected to be "trough."
The shares were up 6.3% in Frankfurt after this publication.
Copyright (c) 2020 CercleFinance.com. All rights reserved.