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Benzinga
Benzinga
Business
Anusuya Lahiri

Ericsson Clocks 3% Sales Growth In Q4; Proposes Dividend Hike Of 25%

  • Telefonaktiebolaget LM Ericsson (NASDAQ:ERICreported a fourth-quarter FY21 sales growth of 3% year-on-year to SEK71.3 billion. Group organic sales grew by 2% Y/Y.
  • Organic sales in Networks rose 3% Y/Y, and Digital Services sales were flat Y/Y.
  • It reported an EPS of SEK 3.02 versus SEK 2.26 last year.
  • The adjusted gross margin expanded 290 basis points to 43.5%. The adjusted EBIT margin improved by 140 bps to 13.9%.
  • The board will propose a dividend for 2021 to the AGM of SEK 2.50 per share, up 25% Y/Y.
  • Looking ahead, the company expects fundamentals to remain strong in its core mobile infrastructure business during 2022.
  • Price action: ERIC shares traded higher by 6.33% at $11.59 in the premarket session on the last check Tuesday.
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