Ericsson: Q1 Earnings Snapshot

STOCKHOLM (AP) — STOCKHOLM (AP) — Ericsson (ERIC) on Tuesday reported first-quarter net income of $246.2 million.

The Stockholm-based company said it had net income of 7 cents per share.

The results exceeded 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 $5.13 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $5.33 billion.

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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