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ABB says strategy shift paying off after Q3 earnings beat forecasts
October 26, 2017 / 4:59 AM / 24 days ago

ABB says strategy shift paying off after Q3 earnings beat forecasts

ZURICH, Oct 26 (Reuters) - ABB reported earnings slightly ahead of expectations for its latest quarter on Thursday with the Swiss engineering group saying focus on higher growing segments like robots for the food and beverage industry was working.

The Swiss power transmission and automation company said net profit rose to $571 million in the third quarter, beating analyst estimates of $553 million in a Reuters poll.

Sales of $8.72 billion beat estimates of $8.52 billion, while new orders - a signifier of future growth - were in line with forecasts at $8.16 billion. (Reporting by John Revill)

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