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
Nike Inc. (NKE), the world's largest athletic shoes and apparel maker, Tuesday said its fourth-quarter profit dropped 2 percent from a year ago, hurt largely by lower-than-expected revenues and weak margins. Shares of the company slipped over 6 percent in the after-hours trading. Beaverton, Oregon-based... WalletHub has released a list of the best large U.S. cities to launch new business, and the results will shock you. It seems the Midwest is an entrepreneur's... IKEA is voluntarily recalling 29 million chests and dressers in the U.S. following reports of several injuries, including deaths of three children caused by them tipping over. The recalled chests and dressers are unstable if they are not properly anchored to the wall, posing a serious tip-over and...
comments powered by Disqus
Follow RTT