Advan Notable Hits: ABB Ltd (ABB)

Notable Hit: (ABB:NYSE) On Thursday July 21, 2022 ABB Ltd (ABB) posted worse than expected revenues of $7.27bn missing the consensus estimate of $7.57bn or by -3.9% and in the same direction as Advan's forecasted sales. The revenue was down 2.2% YoY and in line with Advan's employee foot traffic data decrease of 4.7% YoY at its factories for Q2 2022. Advan's footfall data has a correlation of 0.85 on a YoY basis with ABB's top-line revenue over the last 11 quarters.

Advan Hits: ABB correlation traffic vs revenue

Follow us on Twitter and LinkedIn.

About Advan

Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.

Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.