ZURICH (dpa-AFX) - ABB Ltd. (ANN.L, ABB), a Swiss technology company, on Thursday reported higher profit in its second quarter with strong growth in revenues and orders.
Looking ahead to the third quarter, the company projects comparable revenue growth to be at least in the mid-single digit range, and the Operational EBITA margin to remain broadly stable year-on-year, amid the uncertainty for the global business environment.
For fiscal 2025, ABB continues to expect a positive book-to-bill, comparable revenue growth in the mid-single digit range and the Operational EBITA margin to improve year-on-year.
In its second quarter, net income attributable to ABB was $1.15 billion, up 5 percent from last year's $1.10 billion. Basic earnings per share grew 6 percent to $0.63 from $0.59 last year.
Operational EBITA was up by 9 percent from the prior year to $1.71 billion, and the margin improved 20 basis points to 19.2 percent, a bit better than originally expected.
Revenues grew 8 percent to $8.90 billion from last year's $8.24 billion, supported by three out of four business areas. Comparable revenue growth was 6 percent.
Orders were $9.79 billion in the quarter, up 16 percent from prior year's $8.44 billion. Orders grew 14 percent on a comparable basis.
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