ABB reports strong earnings as data centre demand surges
ABB said its operating earnings rose 24% to $2.03 billion in Q3, while revenue grew 14% to $9.70 billion, driven by booming data-centre orders.
ABB announced that its operating earnings before interest, tax and amortisation climbed 24% to $2.03 billion in the three months to the end of September, marginally above analyst expectations of $2.0 billion. Total revenue rose 14% to $9.70 billion, just below the $9.74 billion consensus estimate. The firm attributed the performance to a sharp increase in demand for its electrification and automation products, especially power distribution and cooling solutions for data centres supporting artificial intelligence workloads.
Orders for data-centre equipment grew by triple digits, continuing a trend observed in the prior quarter. ABB noted that this surge in data-centre spending is bolstering the global economy amid ongoing energy challenges.
Why it matters
ABB's growth signals strong demand for AI-related infrastructure, influencing tech and energy markets worldwide.
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