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Thursday, March 4, 2021

Ericsson: 4Q Earnings Snapshot

STOCKHOLM (AP) _ Ericsson (ERIC) on Friday reported fourth-quarter net income of $873.9 million.

On a per-share basis, the Stockholm-based company said it had net income of 26 cents. Earnings, adjusted for amortization costs and restructuring costs, came to 27 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The telecommunications equipment provider posted revenue of $8.09 billion in the period.

For the year, the company reported profit of $1.91 billion, or 57 cents per share. Revenue was reported as $25.33 billion.

Ericsson shares have fallen almost 3% since the beginning of the year. The stock has risen 40% 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

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