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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. (ABBN.VX) on Wednesday reported a 70% drop in profit during the three months to Dec. 31 as the power and automation giant was hit by a slowdown in emerging markets as falling oil prices slackened demand in many countries.
Zurich-based ABB said net profit for the quarter fell to $204 million from $680 million a year earlier. The figure missed analyst expectations of $225 million. The company, the world's biggest maker of electricity grids, said sales for the quarter fell to $9.24 billion from $10.35 billion a year earlier, missing analyst forecasts of $9.33 billion.
ABB, which also makes industrial robots and motors, has been struggling recently with slowing demand in China and other emerging markets weighing on its performance. The company has also suffered with a reduced order intake and a share price that has fallen 3.3% in the last 12 months.
-Write to John Revill at john.revill@wsj.com
(END) Dow Jones Newswires
February 03, 2016 01:17 ET (06:17 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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