AP NEWS

Ericsson: 4Q Earnings Snapshot

January 24, 2020 GMT

STOCKHOLM (AP) _ Ericsson (ERIC) on Friday reported fourth-quarter profit of $460.8 million.

The Stockholm-based company said it had net income of 14 cents per share. Earnings, adjusted for amortization costs and restructuring costs, came to 15 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The telecommunications equipment provider posted revenue of $6.9 billion in the period.

For the year, the company reported net income of $235.2 million, or 7 cents per share, swinging to a profit in the period. Revenue was reported as $24.04 billion.

Ericsson shares have increased slightly more than 2% since the beginning of the year. The stock has climbed 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ERIC at https://www.zacks.com/ap/ERIC