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. Last Updated: 07/27/2016

Ericsson Profits Up

STOCKHOLM, Sweden -- Swedish telecoms equipment maker LM Ericsson AB's first quarter results smashed market forecasts Friday as the company's focus on new-generation mobile technologies begins to swell the bottom line.

A 366 percent surge in pre-tax profits to 6.1 billion crowns ($681 million) - eclipsing market forecasts of 4.40 billion - sent the Ericsson share, hard-hit in the recent telecoms sell-off, soaring almost nine to 820 crowns.