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 >
Walker & Dunlop Arranges $91.5 Million Refinancing for Multifamily Property in California
Walker & Dunlop Arranges $91.5 Million Refinancing for Multifamily Property in California
Jul 17, 2025
03:42 AM EDT, 07/17/2025 (MT Newswires) -- Walker & Dunlop ( WD ) said late Wednesday it arranged a $91.5 million refinancing of the Blue Rock Village, a 560-unit multifamily property in Vallejo, California. The real estate finance company arranged the 10-year loan on behalf of Prime Residential, it said. ...
ABB draws record orders on booming demand from AI data centres and US
ABB draws record orders on booming demand from AI data centres and US
Jul 17, 2025
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...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
OceanFirst Financial Board Authorizes Stock Buyback Plan
OceanFirst Financial Board Authorizes Stock Buyback Plan
Jul 17, 2025
03:45 AM EDT, 07/17/2025 (MT Newswires) -- OceanFirst Financial ( OCFC ) said Wednesday its board has authorized a stock repurchase program for up to 3 million shares, or about 5% of the company's outstanding stock. The new authorization is incremental to the company's existing 2021 stock repurchase plan, the company said. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved