By Dominic ChoppingSTOCKHOLM--Atlas Copco on Wednesday posted a larger-than-expected rise in second-quarter net profit, but cautioned that near-term demand will weaken somewhat from the current high level. The Swedish industrial tool maker said net profit increased to 6.94 billion Swedish kronor ($679.1 million) in the quarter from SEK5.68 billion a year earlier, as revenue rose 31% to SEK43.36 billion. Analysts polled by FactSet had expected net profit of SEK6.72 billion on revenue of SEK40.87 billion. The operating profit margin slipped to 21.9% from 22.0%, while the adjusted margin edged higher to 21.9% from 21.3%. Atlas Copco said it received orders worth SEK43.47 billion in the quarter, beating a FactSet analysts' forecast of SEK42.74 billion.

Source: Wall Street Journal July 19, 2023 22:49 UTC