ABB Ltd. reported a third-quarter profit of $947 million, with net income reaching 51 cents per share. The company's revenue for the period stood at $8.15 billion, reflecting its operational performance across various segments.
The electrification business was a key driver, demonstrating strength that helped to offset areas of weakness. Specifically, the robotics, discrete automation, and e-mobility segments experienced some challenges during the quarter.
In a positive development for investors, ABB raised its margin guidance for the full year 2024. This adjustment signals management's confidence in the company's ability to improve profitability, primarily driven by the strong performance within its electrification division.
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