The Quarter That Was
All in all, ABB did not have a bad quarter - just not a great one. Sales rose 2% organically, while services revenue rose 11%. Though the company did see double-digit growth in discrete automation and low-voltage products, power products were down by double digits and power systems was up only in the mid-single digits.
Looking ahead, though, orders were up a strong 18% on an organic basis, and that was without much help from those power businesses (orders were down 7% in power products, the company's largest single segment).
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