ABB's net profit in the second quarter fell to $62

2022-08-18
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ABB's second quarter net profit fell 8% year-on-year to $623million

ABB announced on the 22nd that its second quarter sales fell 4% year-on-year to $7.57 billion, and its net profit fell 8% year-on-year to $623million in the same period, but both were higher than the average expectations of analysts

according to the comprehensive media on July 22, abb Ltd. announced on July 22 that its net profit in the second quarter fell by 8% due to price pressure and the tortuous experimental position of the (2) cylinder down universal testing machine. Although the market environment is relatively low, it said that the improvement of orders is a good omen for the rest of 2010

the largest electrical engineering company in Europe in terms of sales announced that its net profit for the three months ended June 30 fell to $623million from $675million in the same period in 2009, but was higher than the net profit expectation of $545million of the 14 analysts surveyed, as the company took a series of cost cutting measures

among them,

Joe Hogan, CEO of ABB, said that the company's strong earnings report showed how we improved our cost base To gain the greatest benefit from the global recovery

for the future, hogan said that compared with the previous quarter, we are now more confident in the recovery of most markets of the company. He added that after the severe industrial recession in the past two years, consumption began to resume investment in energy-saving and production efficiency technologies

abb announced that its sales in the second quarter fell by 4% to $7.57 billion from $7.92 billion in the same period in 2009, higher than the average expectation of analysts of $7.32 billion

the company announced that the number of orders in the second quarter increased by 5% year-on-year, rising to $7.67 billion in dollars and Swiss francs from $7.31 billion in 2009

during the economic recession, abb was severely impacted in June due to the reduction of government and private customers' investment in electrical and industrial infrastructure projects. The company's share price fell about 2% in 2010

the decline in demand, the increasing pressure of price competition and the rising cost of raw materials will create up to 30 new jobs, resulting in the decline in ABB's profits and sales in the past few months, prompting the company to launch restructuring and cost reduction plans

however, despite many challenges, abb has acquired a number of enterprises

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