ABB Profit Beats Estimates as China, Germany Orders Grow
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ABB Ltd. Chief Executive Officer Ulrich Spiesshofer, one month into the job, said he will extend the strategy of his predecessor that helped earnings beat estimates and add extra focus on driving sales across units.
The integration of $10 billion of acquisitions and penetrating deeper into existing markets are current priorities for the world’s largest maker of power transformers, Spiesshofer said. ABB shares rose as much as 4.7 percent, the most in eight months, after today’s profit surprise.