NEW YORK (TheStreet) -- Ericsson (ERIC) - Get Report stock is lower by 6.24% to $9.01 in afternoon trading on Wednesday, after the company reported its 2015 fourth quarter financial results before the market open.
The company reported earnings of 29 cents per share for the most recent quarter, ahead of analysts' estimates for earning of 24 cents per share.
Revenue climbed by 8% to $8.6 billion, compared to $8.2 billion for the fiscal 2014 fourth quarter. Adjusted for comparable units and currencies, revenue declined by 1%.
Analysts had forecast for revenue of $8.46 billion for the most recent quarter.
Ericsson benefited from a global license deal with Apple (AAPL). Terms of the deal weren't disclosed, but analysts had forecast that it could add nearly 3 billion kroner to the company's operating profit during the fourth quarter, according to the Wall Street Journal.
Ericsson is a Sweden-based provider of communications technology and services.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Ericsson's strengths such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels are tempered by weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity.
You can view the full analysis from the report here: ERIC
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.