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ABB Profit Beats Expectations

Ulrich Speisshofer, chief executive of ABB Ltd., pictured in September, said Wednesday the strategic portfolio...

Profit was bolstered by a $200 million bump in cash flow from operations, Zurich-based ABB said. Shares of ABB rose more than 3% in morning trading, when most blue chip stocks in Switzerland were in decline.

Net profit fell 11% to $500 million in the three months to end-March from $564 million in the same period last year, ABB said. Revenue fell 8% to $7.9 billion, the company said. Analysts had expected net profit of $437 million, and $8.05 billion in revenue.

ABB said a stronger U.S. dollar cut into its reported revenue figure in the period by about...


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