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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 Revill
ZURICH--ABB Ltd. Thursday reported an 8% decrease in net profit in the second quarter as the power and automation giant faced a slowdown in several major markets such as China and the U.S.
Zurich-based ABB said net profit for the three months ended June 30 slipped to $588 million from $636 million in the same period a year earlier. The figure beat analyst expectations of $572 million.
Revenue fell to $9.17 billion from $10.19 billion, better than expectations of $9.04 billion.
ABB, the world's largest maker of power grids, said it faced a "mixed" economic picture with the U.S remaining positive and China still growing, although at a slower pace than in 2014. The countries are ABB's two largest markets. There was also weaker demand from the oil and gas sector, ABB said.
Write to John Revill at john.revill@wsj.com
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