By John Revill
ZURICH--ABB Ltd. (ABBN.VX) reported a 30% rise in earnings for
its latest quarter on Thursday, as the power and automation giant's
new strategic direction produced some early gains.
Zurich-based ABB, the world's largest maker of power grids, said
net profit for the three months to Dec. 31 rose to $680 million,
from $525 million a year earlier. The figure missed analyst
expectations of $737 million.
Revenue fell to $10.35 billion, from $11.37 billion, the company
said., missing forecasts of $10.79 billion.
ABB recently launched a five-year strategic plan aimed at
minimizing the sort of risky project that has caused the company
problems in recent years. ABB has said it will also now focus on
high-growth markets and on collaborations such as its recently
announced joint venture with Hitachi Ltd. to develop high-voltage
power grids in Japan.
Write to John Revill at john.revill@wsj.com
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