ABB 3Q Net Profit, Revenue Fell

Date : 10/23/2019 @ 5:47AM
Source : Dow Jones News
Stock : ABB Ltd (ABB)
Quote : 21.77  0.0 (0.00%) @ 12:00AM

ABB 3Q Net Profit, Revenue Fell

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1 Month : From Oct 2019 to Nov 2019

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   By Kim Richters 

ABB Ltd. (ABBN.EB) said Wednesday that third-quarter net profit and revenue fell, largely due to weaker market conditions hitting its robotics and automation business.

The Swiss engineering company said net profit for the period was $515 million, compared with $603 million a year earlier.

Revenue for the period fell 3% to $6.89 billion, compared with $7.10 billion the previous year. The company restated the 2018 figures to reflect the sale of its power-grids business.

Operational earnings before interest, taxes and amortization fell to $806 million from $814 million, the company said.

ABB beat analyst expectations for net profit--$363 million--and operational Ebita--$792 million--, according to consensus provided by the company.

The company expects light revenue growth and improved operating margins for the full year, it said.


Write to Kim Richters at


(END) Dow Jones Newswires

October 23, 2019 01:32 ET (05:32 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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