Brian Blackstone 
 

ZURICH--Swiss power and automated-equipment maker ABB Ltd. (ABB.SK) said Thursday that second-quarter profit fell 31% due to restructuring expenses.

Zurich-based ABB said net income was $406 million in the three months ended June, compared with $588 million a year earlier. Analysts had expected profit of $393 million.

Its revenue fell 5% to $8.68 billion from $9.17 billion. Analysts had expected revenue of $8.8 billion.

"Our continued focus on high growth segments dampened the impact of challenging markets like the process industries," said ABB Chief Executive Ulrich Spiesshofer in a statement. "We are improving our cost and capital structure, as well as our productivity, and shaping a leaner, more agile ABB in a disciplined way."

 

Write to Brian Blackstone at brian.blackstone@wsj.com

 

(END) Dow Jones Newswires

July 21, 2016 01:18 ET (05:18 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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