Ericsson Q1 Profit Climbs, Sales Flat - Quick Facts

(RTTNews) - Swedish telecom equipment maker Ericsson (ERIC) reported Wednesday that its first-quarter net income climbed 39 percent to 3.2 billion Swedish kronor from last year's 2.3 billion kronor. Earnings per share went up 48 percent to 0.96 krona from 0.65 krona a year ago.

EBIT grew 22 percent to 5.3 billion kronor, and EBIT margin improved to 10.6 percent from 8.7 percent last year. Adjusted EBIT grew 16 percent to 5.3 billion kronor, and adjusted EBIT margin improved to 10.7 percent from 9.3 percent a year earlier.

Sales for the quarter were 49.8 billion kronor, sames as last year. Sales adjusted for comparable units and currency grew 10 percent.

The company noted that four of the five market areas showed double-digit growth.