STOCKHOLM: Sweden’s Ericsson on Friday reported fourth-quarter core earnings that missed expectations for the third quarter in a row, as sales of 5G equipment slowed in high-margin markets such as the United States.
The company’s quarterly adjusted operating earnings excluding restructuring charges fell to 9.3 billion Swedish crowns ($902 million) from 12.8 billion crowns a year earlier. Analysts’ mean forecast for core earnings was 11.22 billion, according to Refinitiv data.
Net sales rose 21% to 86 billion crowns, beating estimates of 84.2 billion.
A settlement of a patent deal with Apple last month resulted in revenue of 6 billion crowns, but Ericsson also took 4 billion crowns in charges, including a provision for a potential fine from the US regulators and divestments.
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