Ericsson Proposes First-Ever Buyback After Earnings Beat

Ericsson AB proposed its first-ever buyback after fourth-quarter earnings beat analysts’ forecasts, boosted by the Swedish telecommunications equipment maker’s efforts to cut costs and raise margins in a sluggish market.

Adjusted earnings before interest, taxes and amortization were 12.7 billion kronor ($1.4 billion), up 24% from a year earlier, the Stockholm-based company said in a statement on Friday. That compared to an average of 10.5 billion kronor forecast by analysts in data compiled by Bloomberg.