Siemens says profits down, this quarter could be the bottom
FRANKFURT, Germany (AP) — Industrial equipment company Siemens says profits were down in the most recent quarter even though the company says it was able to keep production going despite the virus outbreak. But demand was down and the firm couldn’t get access to many customer sites in regions that were strongly affected. And it says it can’t give an earnings forecast for the year. Siemens said that quarterly net profit fell to 697 million euros ($755 million), a decline of more than half.