ABB Posts ‘Promising’ Start to 2022 With Big Jump in Orders | Technology News

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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)

Copyright 2022 Thomson Reuters.

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