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Ericsson (NASDAQ: ERIC) reported a drop in its third-quarter profit.

Ericsson's quarterly gross margin declined to 30.4%, from 35%, in the year-ago quarter.

Its net profit declined 43% to 2.18 billion Swedish kronor ($325 million), from SEK3.82 billion, in the year-ago quarter.

Ericsson's sales dropped 2% to SEK54.55 billion from SEK55.52 billion, versus estimates of SEK55.11 billion.

Ericsson shares closed at $9.07 yesterday.

Posted-In: profitEarnings News


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