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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.

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