Saturday March 28, 2020

Ericsson shares hit as profit disappoints

Shares in Ericsson, the world’s largest maker of wireless networks with some 1,500 staff here, plunged as fourth-quarter profit missed analyst estimates due to slower spending from US customers.

25th January, 2012
2
Ericsson chief executive Hans Vestberg

Shares in Ericsson, the world’s largest maker of wireless networks with some 1,500 staff here, plunged as fourth-quarter profit missed analyst estimates due to slower spending from US customers.

Net income declined to 1.15 billion kronor from 4.32 billion kronor a year earlier, Stockholm-based Ericsson said today. Analysts in a SME Direkt survey predicted profit of 4.24 billion kronor, the average of 40 estimates.

“All the major numbers were disappointing,” said Robert Jakobsen, an analyst with Jyske Bank...

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