Fri, May 2, 2025
Thu, May 1, 2025
Wed, April 30, 2025

ABB to spin off world's second biggest robotics business

ABB, a Swiss engineering and technology company, reported a first-quarter profit that exceeded expectations, with net profit rising to $1.04 billion from $885 million the previous year, driven by strong demand in its electrification and automation businesses. The company's revenues increased by 11% to $7.86 billion, surpassing the forecasted $7.47 billion, attributed to robust growth in its core markets, particularly in the U.S. and China. ABB also raised its full-year revenue growth guidance to between 10% and 12%, up from the previous 5% to 7%, reflecting confidence in continued strong performance across its segments.

Read the Full Reuters Article at:
[ https://www.aol.com/news/abb-q1-profit-beats-forecasts-045626965.html ]