ABB $ABB, a global front-runner in industrial automation and electrification, impressed financial markets with its first-quarter earnings, which comfortably beat analyst expectations. Strategic management decisions and a lucrative real estate transaction helped propel the company’s results. Operating EBITA for the quarter jumped 13% to $1.59 billion, outpacing the consensus forecast of $1.48 billion. An additional boost came from a one-time gain of 120 million Swiss francs (approximately $146.93 million) following the sale of property assets to the city of Zurich.

Swiss corporation ABB Ltd. $ABB, known for its production of industrial robots and related software, announced plans to spin off its robotics division into a standalone company by 2026. This decision aims to transform the company’s least profitable segment into an independent entity, which management believes will enhance operational efficiency and improve financial results.