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Ericsson shares rise despite profit below consensus

30
Jan
2014

Mobile telecom gear maker Ericsson posted sales and fourth-quarter operating profit below expectations on Thursday, but shares rose and analysts pointed to a positive outlook for the Swedish company. Ericsson’s earnings before interest and tax were 9.1 billion Swedish crowns ($1.4 billion) compared to 4.8 billion in the year-ago quarter, excluding the company’s joint ventures, missing a mean forecast of 9.9 billion in a Reuters poll of analysts. Sales and profits were boosted by a 4.2 billion crowns patent deal with Samsung. The gross margin was 37.1 percent against a mean forecast of 36.7 percent.

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