ABB Q1 Profit Climbs, Sees Steady Margin Improvement In FY22; Stock Up

Shares of ABB Ltd. were gaining more than 5 percent in Switzerland trading as well as in pre-market activity on the NYSE after the engineering company reported Thursday higher first-quarter profit. For fiscal 2022, the company expects a steady margin improvement towards the 2023 target of at least 15 percent, supported by increased efficiency.

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