Ericsson stock jumps as LM Ericsson unveils first-ever buyback after Q4 profit beat
Ericsson shares rose more than 11% in Stockholm after the company beat fourth-quarter profit forecasts and announced its first-ever share buyback, totaling SEK 15 billion. The board proposed raising the dividend to SEK 3.00 per share. Management signaled more cost cuts and job reductions ahead. Shareholder approval for the buyback is set for March 31.