financetom
Business
financetom
/
Business
/
ABB draws record orders on booming demand from AI data centres and US
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
ABB draws record orders on booming demand from AI data centres and US
Jul 17, 2025 12:14 AM

ZURICH (Reuters) -Swiss engineering group ABB reported on Thursday its highest-ever quarterly order intake, helped by surging demand from the United States and for products used in data centres being built to support artificial intelligence.

Orders in the United States, the company's biggest market, jumped 37% in the second quarter, outpacing a 14% rise in the group's orders overall, ABB said.

Its shares were indicated 3.1% higher in premarket activity on the Zurich stock exchange as ABB also said it expected further revenue growth in the third quarter.

ABB said its orders for products for data centres increased in the double-digit percentage range during the quarter. They are being built to provide data storage and computational resources used for artificial intelligence, the company said.

U.S. companies announced a series of big-ticket AI and energy investment pledges earlier this week, part of a push by President Donald Trump to maintain the country's edge in the booming technology sector.

The demand put ABB in a good position for the rest of the year, said CEO Morten Wierod, despite ongoing uncertainties linked to rising tariffs.

"ABB delivered an all-time-high order intake and improved operational performance," he said in a statement, adding that the current market environment was "robust."

"We are on a good path towards a new record year," he added, pointing towards higher sales and profitability at the company, despite geopolitical uncertainties.

For the three months to the end of June, ABB reported a 9% rise in core operating income to $1.71 billion, beating analyst forecasts of $1.65 billion.

Net income of $1.15 billion was better than the $1.12 billion expected by analysts in a company-supplied consensus. Revenue rose 8% to $8.90 billion, ahead of forecasts for $8.72 billion.

Looking ahead, the company said it expected comparable revenue growth in the mid-single digit percentage range in the third quarter.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Millrose Properties Plans $500 Million Senior Notes Offering
Millrose Properties Plans $500 Million Senior Notes Offering
Sep 8, 2025
08:08 AM EDT, 09/08/2025 (MT Newswires) -- Millrose Properties ( MRP ) said Monday that it plans to offer up to $500 million of senior notes due 2032. The company said it plans to use the net proceeds, along with cash on hand, to repay all of the $500 million outstanding under its term loan credit agreement maturing in June...
A2Z Cust2Mate Receives Rights to Monetize Shopping Carts at Israeli Supermarket Chain
A2Z Cust2Mate Receives Rights to Monetize Shopping Carts at Israeli Supermarket Chain
Sep 8, 2025
08:09 AM EDT, 09/08/2025 (MT Newswires) -- A2Z Cust2Mate Solutions ( AZ ) said Monday it has received the rights to monetize retail media space, customer data, and other digital assets and services provided on or generated by its smart shopping carts at Israel's Yochananof supermarket chain. Financial terms were not disclosed. Under the agreement, A2Z Cust2mate will pay Yochananof...
BRIEF-Infleqtion To Go Public Through Merger With Churchill Capital Corp X
BRIEF-Infleqtion To Go Public Through Merger With Churchill Capital Corp X
Sep 8, 2025
Sept 8 (Reuters) - Churchill Capital Corp X ( CCCX ): * INFLEQTION TO GO PUBLIC THROUGH MERGER WITH CHURCHILL CAPITAL CORP X * CHURCHILL CAPITAL CORP X ( CCCX ) - INFLEQTION VALUED AT $1.8 BILLION PRE-MONEY EQUITY VALUE * CHURCHILL CAPITAL CORP X ( CCCX ): COMBINED CO TO OPERATE AS INFLEQTION, EXPECTED TO BE LISTED ON A...
BRIEF-Hydreight Technologies Signs Binding Letter Of Intent To Acquire Dynamic Iv Therapy Support Ai Agent
BRIEF-Hydreight Technologies Signs Binding Letter Of Intent To Acquire Dynamic Iv Therapy Support Ai Agent
Sep 8, 2025
Sept 8 (Reuters) - Hydreight Technologies Inc ( HYDTF ): * HYDREIGHT TECHNOLOGIES SIGNS BINDING LETTER OF INTENT TO ACQUIRE DYNAMIC IV THERAPY SUPPORT AI AGENT Source text: Further company coverage: ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved