Siemens Revenue Climbs on Robust Demand for Rail Products

Siemens AG’s revenue and orders rose in its fiscal third quarter after robust demand for the German industrial manufacturer’s rail products offset a decline at the software business.

Comparable revenue for the period climbed 5% to €19.4 billion ($22.7 billion), Siemens said Thursday. Orders at the mobility division more than tripled after the company secured a €3.5 billion deal linked to the construction of a high-speed rail network in Egypt, and a train order in the US. The company confirmed its full-year guidance.