July 19, 2018 / 4:58 AM / a month ago

ABB reports 30 percent rise in net profit during second quarter

ZURICH, July 19 (Reuters) - ABB reported better-than-expected profit on Thursday despite weak sales as the Swiss engineering company warned about "rising geopolitical uncertainties" around the world.

ABB, which makes industrial robots and power grids to transmit electricity, said its net profit rose 30 percent to $681 million in the three months to the end of June, beating forecasts of $631 million in a Reuters poll of 23 analysts.

But revenue growth remained sluggish, rising only 1 percent to a weaker-than-expected $8.89 billion, a performance below ABB's annual target range for a 3 to 6 percent increase in sales on a comparable basis. (Reporting by John Revill, editing by John Miller)

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