Siemens sales, orders rise on strengthening global economy

Industrial equipment maker Siemens said Wednesday that its net income rose 12 percent to 2.2 billion euros ($2.7 billion) in the last three months of 2017, helped by one-time gains from the sale of shares in its Osram lighting business and from the U.S. corporate tax cut.

The company said results for the quarter, its fiscal first, benefited from the upswing in the global economy. Revenue rose 3 percent to 19.8 billion euros ($24.6 billion) while orders increased 14 percent to 22.5 billion euros.

Orders are key to future earnings for the company since projects can take months or years to deliver.Shares in Siemens AG rose after the earnings announcement and traded...