ZURICH, April 20 ABB said on Thursday
it expected 2017 to be a transitional year, with the first signs
of a recovery in some industries, as the engineering company
reported better-than-expected earnings during the first three
months of the year.
The Swiss power transmission and automation company said net
profit for the period ended March 31 rose 45 percent to $724
million from $500 million a year earlier.
The figure, boosted by a gain from selling its high voltage
cable business to Denmark's NKT Cables last year, beat the
average analyst forecast of $489 million in a Reuters poll.
Revenue fell 1 percent to $7.85 billion, though it rose 3
percent after stripping out the effect of divestitures and
(Reporting by John Revill)