Ericsson fourth-quarter core profit hit by slowdown in US business
The Ericsson logo is seen at the Ericsson's headquarters in Stockholm, Sweden June 14, 2018. REUTERS/Olof Swahnberg
Swedish telecoms equipment group Ericsson reported a sharp rise in fourth-quarter core earnings on Friday, but said the quarter, seasonally its best, had nevertheless been hit by a slowdown in its previously surging US business.
Adjusted quarterly operating earnings at the mobile network gear maker, a rival of China's Huawei and Finland's Nokia rose to 5.7 billion Swedish crowns ($600.19 million) from 2.6 billion a year earlier but were down from 7.4 billion the previous quarter.
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