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ABB beats forecasts with Q2 earnings and announces biggest-ever acquisition
- ABB said its operational earnings before interest, tax and amortisation (EBITA) rose 20% to $1.93 billion in the three months to the end of June
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ZURICH: ABB reported better-than-expected second quarter earnings on Thursday as the Swiss engineering company also announced its biggest-ever acquisition with a $5.5 billion deal for British automation company Rotork.
ABB said its operational earnings before interest, tax and amortisation (EBITA) rose 20% to $1.93 billion in the three months to the end of June.
ABB CEO says investors won’t wait long for capital to be returned
The figure beat forecasts for $1.88 billion in a company-gathered consensus of analysts.