ABB Posts Downbeat Q4 Net Profit

ABB Ltd ABB posted an increase in its fourth quarter net profit. ABB's quarterly net profit surged to $830 million, versus $700 million in the year-ago period, versus analysts' estimates of $941 million. Its orders surged 16% to $10.16 billion. ABB's sales gained 15% to $10.57 billion versus $9.18 billion, beating analysts' estimates of $10.27 billion. Its earnings before interest and taxes jumped 15% to $1.12 billion. ABB shares dropped 4.94% to $20.60 in pre-market trading.