Siemens earnings slip on lower demand from auto industry

FRANKFURT, Germany (AP) — Industrial equipment and technology company Siemens says net profit slipped 6% in the company’s most recent quarter as weaker demand for factory automation from the auto and machine-building sectors hit profits.
The company said Thursday that net profit eased to 1.134 billion euros ($1.252 billion) in the April-June quarter, the company’s fiscal third, from the year-earlier period. Revenue rose 4% to 21.27 billion euros.
The company’s order backl