U.S. Markets close in 6 hrs 15 mins

Ericsson: 1Q Earnings Snapshot

STOCKHOLM (AP) _ Ericsson (ERIC) on Wednesday reported first-quarter net income of $252.7 million, after reporting a loss in the same period a year earlier.

The Stockholm-based company said it had net income of 8 cents per share. Earnings, adjusted for restructuring costs and amortization costs, were 9 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The telecommunications equipment provider posted revenue of $5.33 billion in the period.

Ericsson shares have climbed 9 percent since the beginning of the year. The stock has increased 53 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ERIC at https://www.zacks.com/ap/ERIC