Ericsson 4Q Sales, Net Beat Expectations, ADRs Up
January 25 2022 - 2:10PM
Dow Jones News
By Stephen Nakrosis
The American depositary receipts of Telefon AB L.M. Ericsson are
trading higher Tuesday, after the company reported fourth-quarter
net profit and sales that beat market expectations.
At 1:25 p.m. ET, the company's ADRs were trading 6.83% higher,
at $11.64 each. Volume topped 15.3 million shares, above the
stock's 65-day average volume of some 6.4 million.
The company said its fourth-quarter net profit was SEK10.06
billion($1.08 billion) on sales of SEK71.3 billion.
Analysts were expecting net income of SEK6.5 billion on sales of
SEK68 billion, according to FactSet.
Borje Ekholm, the company's president and chief executive, said
networks sales in the fourth quarter grew organically by 3%,
"despite considerably lower volumes in Mainland China."
Also Tuesday, Ericsson said its board would propose raising the
company's dividend to SEK2.5 a share from SEK2 a share.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 25, 2022 13:55 ET (18:55 GMT)
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