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ABB third quarter net profit rises 10 pct
October 24, 2013 / 4:19 AM / in 4 years

ABB third quarter net profit rises 10 pct

ZURICH, Oct 24 (Reuters) - Swiss industrial group ABB said net profit rose 10 percent in the third quarter, even as orders fell as the awarding of large orders remained slow.

Third-quarter orders fell 2 percent to $9.01 billion, slightly below the average analyst forecast of $9.17 billion, the Swiss company said in a statement on Thursday.

Net profit rose 10 percent to $835 million, beating the average forecast of $791 million.

After shelling out more than $10 billion on acquisitions in recent years, ABB is now focusing on integrating those purchases as well as growing its service revenues, an attempt to shield its business from cyclical swings in the global economy. (Reporting by Caroline Copley)

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