ZURICH (AP) — ZURICH (AP) — ABB Ltd. (ABB) on Tuesday reported first-quarter earnings of $1.04 billion.
The Zurich-based company said it had net income of 55 cents per share. Earnings, adjusted to account for discontinued operations, were 56 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The industrial automation company posted revenue of $7.86 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $7.39 billion.
ABB shares have increased 17% since the beginning of the year.
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