ZURICH (Reuters) – ABB reported better-than-expected profit during its fourth quarter on Thursday as the Swiss engineering group saw significantly higher demand but was held back by ongoing disruptions in its supply chain.
The maker of fast chargers for electric vehicles and industrial drives for factories reported net income of $2.64 billion beating forecasts for $2.42 billion in a company gathered consensus of analyst forecasts.
Operating earnings before interest, tax, and amortisation (EBITA) increased 20% to $988 million, better than forecasts of $983 million.
(Reporting by John Revill, editing by Kirsti Knolle)
