ZURICH: Swiss-Swedish engineering giant ABB on Wednesday posted better-than-expected earnings, even as its net profit plunged amid “challenging” conditions, including slumping demand in China and the United States and lower oil prices.
For the June-to-September quarter, ABB’s net profit fell 21 percent to $577 million (508 million euros), beating analysts’ expectations that it would rake in only $527 million.
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