ABB First-Quarter Profit Rises 87% on China, India
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ABB Ltd., the world's largest builder of electricity networks, said first-quarter profit climbed 87 percent, beating analyst estimates, as China and India increased investment in power stations and grids.
Net income increased to $1 billion, or 44 cents a share, from $537 million, or 25 cents, a year earlier, Zurich-based ABB said today in a statement. Analysts in a Bloomberg survey predicted profit of $737 million, according to the median of 14 estimates. Sales gained 29 percent to $7.96 billion.