Ericsson (ERIC, Financial) saw its stock drop nearly 10% in pre-market trading, priced at $8.04. The decline followed the release of the company's fourth-quarter earnings, which fell short of analyst predictions. The anticipated rebound in sales from India did not materialize, impacting the results.
The financial report revealed that Ericsson's adjusted earnings before interest and taxes (EBIT) reached 9.8 billion Swedish kronor (approximately $894 million), marking a 33% increase compared to the same period last year. However, this figure was below the average analyst forecast of 10.3 billion Swedish kronor. Additionally, the adjusted operating profit margin was 13.4%, slightly under the expected 14.03%.
