ABB Ltd. said its normalized net income for the second quarter amounted to 23 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.
EPS rose 6.2% year over year from 22 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $518.5 million, an increase from $502.4 million in the prior-year period.
The normalized profit margin increased to 5.7% from 4.9% in the year-earlier period.
Total revenue declined 10.1% year over year to $9.16 billion from $10.19 billion, and total operating expenses declined 11.5% from the prior-year period to $8.20 billion from $9.27 billion.
Reported net income decreased 9.7% from the prior-year period to $581.9 million, or 26 cents per share, from $644.6 million, or 28 cents per share.
