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Ericsson grows net profit 68% in Q4

2016-01-27 08:27:00| Telecompaper Headlines

(Telecompaper) Ericsson reported a strong improvement in fourth-quarter profits, supported by cost reductions and modest sales growth. Net profit jumped 68 percent to SEK 7.0 billion or SEK 2.15 per share, and operating profit was up 75 percent year-on-year to SEK 11.0 billion. Sales increased 8 percent from a year earlier to SEK 73.6 billion. The company reduced its operating costs by around 10 percent year-on-year in the second half of 2015, as part of its target to achieve SEK 9 billion in savings by 2017. In addition, higher revenues from IP licensing helped boost margins. After more than doubling operating cash flow in Q4, Ericsson raised its dividend by 9 percent to SEK 3.70 per share. 

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