ZURICH (Reuters) – ABB expects to continue its “promising” start to 2022, the engineering and technology company said on Thursday, after posting better-than-expected profit and a big jump in orders during the first quarter.
The maker of factory robots and industrial drives reported operating profit before interest, tax and ammortisation (EBITA) of $997 million, beating analysts’ forecasts of $946 million in a company gathered consensus.
Net profit rose 20% to $604 million, beating forecasts for $562 million. Revenues rose to $6.96 billion, while orders – which point to future growth – increased by 21%.
(Reporting by John Revill; Editing by Clarence Fernandez)