Ericsson fourth-quarter core profit hit by slowdown in U.S. business

STOCKHOLM (Reuters) – Swedish telecoms equipment group Ericsson (ST:) reported a sharp rise in fourth-quarter core earnings on Friday, but said the quarter, seasonally its best, had nevertheless been hit by a slowdown in its previously surging U.S. business.

Adjusted quarterly operating earnings at the mobile network gear maker, a rival of China’s Huawei and Finland’s Nokia (HE:), rose to 5.7 billion Swedish crowns ($600.19 million)from 2.6 billion a year earlier but were down from 7.4 billion the previous quarter.

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