STOCKHOLM (AP) — STOCKHOLM (AP) — Ericsson (ERIC) on Friday reported first-quarter net income of $97.2 million.
On a per-share basis, the Stockholm-based company said it had profit of 3 cents. Earnings, adjusted for restructuring costs, came to 13 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 13 cents per share.
The telecommunications equipment provider posted revenue of $5.4 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $5.8 billion.
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