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April 28, 1997updated 05 Sep 2016 1:09pm


By CBR Staff Writer

There’s simply no pleasing some people. LM Ericsson Telefon AB, a victim of its own past

success, reported solid first-quarter results that still fell shy of Wall Street expectations. The

Swedish cellular giant posted net income up 30% at $176.9m – or $0.18 per share – when First Call

analysts wanted $0.20 out of the quarter. Income was aided by a weaker krona to the tune of $13m

and revenue increased 36% to $3.99bn. The company saw sales growth in all of its product lines

– including 100% growth in mobile phones and terminals and 16% growth in mobile systems

– and across all geographies.

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