ABB nudges profit guidance higher after Q3 beats forecasts

ABB, a Swiss engineering company, reported higher-than-expected operating profits in the third quarter. This success came from its electrification unit. The company raised its profitability outlook for the year but slightly downgraded its revenue growth expectations. The new CEO, Morten Wierod, started in August, following an operational overhaul by former CEO Bjorn Rosengen.