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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ABB Ltd | NYSE:ABB | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 37.13 | 0 | 01:00:00 |
From May 2019 to May 2024
By John Letzing
ZURICH--ABB Ltd. reported a 11% decline in net profit for the first quarter, as the power grid and automated equipment maker's revenue fell 8%.
Zurich-based ABB said Wednesday that net profit fell to $500 million from $564 million a year earlier. Revenue fell to $7.9 billion from nearly $8.6 billion.
Analysts expected a net profit of $437 million and $8.05 billion in revenue.
ABB cited "continuing market headwinds."
Recent weakness in the oil and gas industry, in addition to sluggish demand in emerging markets such as China, have hindered the performance of a number of international equipment makers.
Write to John Letzing at john.letzing@wsj.com
(END) Dow Jones Newswires
April 20, 2016 01:15 ET (05:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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