ABB reports forecast-beating fourth-quarter profit as robotics shines [Reuters]
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Source: Reuters
ABB reports forecast-beating fourth-quarter profit as robotics shines | Reuters 2 Min Read ZURICH (Reuters) - Swiss engineering company ABB reported better-than-expected earnings during its fourth quarter on Thursday in its first results since it sold its $11 billion power grids unit and launched its latest revamp to focus on digital industries. ABB, whose remaining product portfolio spans factory robots to industrial drives and electric vehicle chargers, reported net profit of $317 million, beating estimates of $301 million in an Infront Data poll for Reuters. The figure did not include a contribution from ABB’s power grids business, the division which it agreed to sell to Hitachi in December. ABB, whose new strategy aims to strengthen is position in industrial digitalization, also on Thursday announced a partnership agreement with France’s Dassault Systemes to offer software for clients. During the fourth quarter ABB’s robotics division was the star performer, with orders and revenu
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