ABB Earnings Recap: A Bright Future Ahead
The demand for electrical products is growing steadily, but you wouldn't know it from ABB's (NYSE: ABB) second-quarter 2022 financial results. Revenue was down 3% and net income fell 50%, which seem like indicators that we could be in a recession, even in electrical products. Q2 revenue was down 3% to $7.25 billion, and net income fell 50% to $379 million, or $0.20 per share.