ABB Shares Slide as Orders From China, Americas Dry Up

Overall orders decline in the Americas, China and Europe
Sees more than 10% annual growth in data center segment

WATCH: CEO Björn Rosengren attributes ABB’s results to growing demand for AI, data centers and global electrification.Source: Bloomberg

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By Allegra Catelli and Levin Stamm

July 18, 2024 at 5:29 AM UTC

Updated on

July 18, 2024 at 7:18 AM UTC

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ABB Ltd. shares dropped after reporting a decline in orders across regions as weaker demand for its automation products offset gains in its power-grid business.

Overall, ABB’s orders fell 3% in the three months through June, including an 11% drop in China and 6% slide in the Americas, the Swiss company said Thursday.