Ericsson Q4 Net Profit Declines 65%
Ericsson AB (NASDAQ: ERIC) reported a 65% drop in its net attributable profit for the fourth quarter.
Ericsson's quarterly profit fell to 1.49 billion Swedish kronor ($221 million), from SKR4.32 billion, in the year-ago period. Its net sales gained 1% to SKR63.67 billion from SKR62.78 billion.
Ericsson's gross margin declined to 30.2% from 36.6%. However, analysts were expecting a gross margin at 34.7%.
Ericsson shares fell 2.25% to $10.00 in after-hours trading.
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