We recently published 10 Stocks Delivering Outsized Gains; 3 Are Hitting Record Highs. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) was one of the best performers on Friday.
Ericsson rallied to a new three-year high on Friday, as investors took heart from a strong earnings performance last year and a planned buyback program amounting to 15 billion Swedish krona in a bid to boost investor value.
At intra-day trading, the stock jumped to its highest price of $10.53 before trimming gains to end the session just up by 8.87 percent at $10.43 apiece.
In an updated report, Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) said that it grew its net income for the full-year period by more than 7,000 percent to 28.7 billion Swedish krona from only 400 million Swedish krona in 2024.
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Net sales, on the other hand, dipped by 4.5 percent to 236.7 billion Swedish krona from 247.9 billion Swedish krona year-on-year.
In the fourth quarter alone, Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) grew its net profit by 76 percent to 8.6 billion Swedish krona from 4.9 billion Swedish krona in the same period in 2024, while net sales dipped by 5 percent to 69.3 billion Swedish krona from 72.9 billion Swedish krona.
Looking ahead, Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) announced plans to repurchase 15 billion Swedish krona worth of its shares, which will begin upon the publication of its earnings report for the first quarter of 2026.
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Disclosure: None. This article is originally published at Insider Monkey.
