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.
