Tesla, ABB, TSMC get Q2 earnings off to downbeat start

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ABB warned of slowing Chinese demand, chipmaker TSMC forecast a drop in 2023 sales and Electrolux cautioned that shoppers are seeking cheaper appliances, deepening worries about global corporate and economic health

ABB says China orders fell in Q2warned on Thursday of slowing Chinese demand, Taiwanese chipmaker TSMC forecast a drop in 2023 sales and Electrolux cautioned shoppers are seeking cheaper appliances, deepening worries about global corporate and economic health.

ABB, whose results are seen as a bellwether for the health of the broader industrial economy with its motors, drives, controllers and electrification products used in transport systems and factories, also saw lower demand in Germany.

 

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