Ericsson Sales Trail Estimates on Growth in Competition
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Ericsson AB, the largest maker of wireless networks, reported first-quarter revenue that trailed analysts’ estimates amid competition from Huawei Technologies Co. for contracts to build and service faster systems.
Sales rose 2 percent to 52 billion kronor ($7.8 billion), Stockholm-based Ericsson said today in a statement. Analysts predicted 52.9 billion kronor, the average of estimates compiled by Bloomberg. Profit margins also missed projections.