logo
Share SHARE
FONT-SIZE Plus   Neg

ABB Q1 Profit Rises 5% - Quick Facts

ABB Ltd. (ABB) reported that first quarter net income attributable to company increased 5 percent to $685 million from $655 million in the same period last year. Basic net income per share was $0.30, compared to $0.29 in the previous year period.

Revenues were $8.907 billion, versus $8.402 billion in the year-ago quarter. The company said that revenues increased in all divisions and were 8 percent higher than the same quarter a year earlier, led by 21% growth in Discrete Automation and Motion and 9 percent in Power Products.

Operational EBITDA declined 7 percent, with an operational EBITDA margin of 13.9 percent.

The company noted that more than half of its profitability decline was attributable to the challenging demand environment in China, especially in the construction and transportation sectors.

Looking forward, the company said that the long-term outlook for company remains positive and added that overall demand to provide ample opportunities for profitable growth in 2012 and also confirmed its longer-term Group and divisional targets.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Volkswagen AG declined around 3 percent in the morning trading, after the German automotive giant reported Tuesday lower profit and revenues in its first quarter, mainly reflecting weak passenger car volumes and negative currency impacts. Further, the company reiterated its outlook for fiscal 2016, expecting a decline in revenues. For Coca-Cola, patriotism is the new way for marketing and minting profit. The beverage giant joined with United Service Organizations Inc. or USO to bring out limited-edition patriotic Coca-Cola cans at the Memorial Day weekend to honor U.S. Service Members. The Coca-Cola cans are available at convenience stores now through July 4th. The holiday throng seeking to take a flight out to their preferred destinations at the at New York's Kennedy International Airport ahead of the Memorial Day holiday were in for a rude shock. Technology played a spoilsport, as a computer system broke down Sunday evening at a terminal, causing flight delays and cancellations that resulted in manual check-in process for thousands of holiday passeng
comments powered by Disqus
Follow RTT