* Q3 net profit $759 mln vs poll of $764 mln
* Says longer-term outlook positive
ZURICH Oct 25 Engineering firm ABB
recorded third quarter net income in line with analysts'
expectations and said its long-term prospects were favourable,
due to growing demand for energy efficiency and urbanisation in
The company, which competes with the likes of Siemens
and General Electric, recorded net profit of
$759 million for the months between July and September, a fall
of 4 percent from a year earlier. Analysts polled by Reuters had
forecast a net profit of $764 million.
"Notable positive trends were the strength of the U.S.
market (and) the stability of orders in China," it said of the
factors that had contributed to its third-quarter result.
ABB, which makes components for the oil and gas industry and
big infrastructure projects, has faced a period of tough
competition on prices and weak demand as clients postpone
capital expenditure and governments tighten their belts.
Yet the tide seemed to have turned with orders from key
market China improving, ABB said in July.
(Reporting by Catherine Bosley)