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ABB sees brighter outlook after fourth-quarter net profit drops

Reuters  |  ZURICH 

ZURICH (Reuters) - ABB gave a brighter outlook for 2018, saying on Thursday it saw improving markets around the world after its overhaul hit the engineering group's fourth-quarter earnings. The maker of power transmission equipment and industrial robots said net profit fell 8 percent to $393 million during the three months ended Dec. 31, missing the average estimate of $424 million in a Reuters poll of analysts. The figures were hit by a fourth-quarter charge of $76 million from restructuring its business.Revenues rose 3 percent to $9.28 billion, short of the poll estimate of $9.5 billion, ...

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First Published: Thu, February 08 2018. 12:03 IST