ABB says data centre business booming, Q3 figures in line with forecasts

ZURICH, Oct 20 - ABB has reported a boom in its data centre business, with earnings and revenues exceeding analyst expectations. The Swiss engineering group revealed that its operational earnings before interest, tax and amortisation rose by 24% to $2.03 billion in the three months ending September 30th, slightly above forecasts of $2.0 billion.

Revenue also increased by 14% to $9.70 billion, marginally lower than the anticipated $9.74 billion. ABB's strong demand for products including power distribution and cooling systems for data centres is contributing to the global economy's resilience despite the energy crisis triggered by the Middle East conflict, according to the IMF.