Schneider Electric on Thursday posted a smaller-than-expected quarterly revenue decline, but expects a further significant impact from the COVID-19 pandemic as global shutdowns to curb the fast-spreading virus take effect.
The logo of Scheider Electrics is pictured at the company's headquarters in Rueil-Malmaison near Paris, France, April 22, 2020. REUTERS/Charles Platiau/FilesREUTERS: Schneider Electric on Thursday posted a smaller-than-expected quarterly revenue decline, but expects a further significant impact from the COVID-19 pandemic as global shutdowns to curb the fast-spreading virus take effect.
The French electrical equipment group, which markets products ranging from electrical car chargers and lighting control to transformers and production software, reported a first-quarter revenue of 5.83 billion euros , down 6.4per cent organically, slightly lower than analysts' expectations of a 7.2per cent decline.