Ericsson Profit Rises as Handset Disposal Helps Margins
This article is for subscribers only.
Ericsson AB’s first-quarter profit more than doubled on the sale of a stake in its mobile handset venture while the company increased its profit margins from the previous period amid cautious spending from European operators.
The net income of 8.95 billion kronor ($1.3 billion) included 7.7 billion kronor in one-time gains from the sale of half of Sony Ericsson Mobile Communications, the world’s largest maker of wireless networks said. Gross profit margin, the percentage of sales left after costs of goods sold, climbed to