Ericsson Posts Q4 Net Profit

Swedish company Ericsson

posted a profit in the fourth quarter. Ericsson swung to a quarterly net profit of 6.41 billion Swedish kronor ($990 million), versus a year-ago loss of 6.46 billion kronor. However, analysts were expecting a profit of 7.22 billion kronor. Its revenue came in at 67 billion kronor, versus 66.94 billion kronor. Analysts expected revenue of 69.1 billion kronor. Ericsson's sales in North America dropped 19% y/y. Its gross margin widened to 37.1% from 31.1%. Ericsson shares closed at $11.95 yesterday.