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ABB Ltd. said Wednesday that third-quarter net profit and revenue fell, largely due to weaker market conditions hitting its robotics and automation business.
The Swiss engineering company ABB, -0.53% ABB, -0.46% said net profit for the period was $515 million, compared with $603 million a year earlier.
Revenue for the period fell 3% to $6.89 billion, compared with $7.10 billion the previous year. The company restated the 2018 figures to reflect the sale of its power-grids business.
Operational earnings before interest, taxes and amortization fell to $806 million from $814 million, the company said.
ABB beat analyst expectations for net profit–$363 million–and operational Ebita–$792 million–, according to consensus provided by the company.
The company expects light revenue growth and improved operating margins for the full year, it said.
