January 24, 2020 / 6:12 AM / a month ago

Ericsson Q4 core profit hit by slowdown in U.S. business

STOCKHOLM, Jan 24 (Reuters) - Swedish telecoms equipment group Ericsson 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 , 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. ($1 = 9.4970 Swedish crowns) (Reporting by Johannes Hellstrom; Editing by Simon Johnson)

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