ABB 3Q Net Profit, Revenue Fell
October 23 2019 - 1:47AM
Dow Jones News
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 kim.richters@wsj.com
(END) Dow Jones Newswires
October 23, 2019 01:32 ET (05:32 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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