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STOCKHOLM, Sweden (AP) - LM Ericsson, the world's largest maker of wireless networks, said Friday that strong sales in Asia helped boost earnings 12 percent in the second quarter but its shares dropped as the results missed expectations.
Net profit in the quarter came to 6.4 billion kronor ($960 million), up from 5.7 billion kronor in the same period last year but below the 6.64 billion kronor ($1 billion) forecast by analysts polled by Dow Jones Newswires.
Ericsson shares fell 5.11 percent to 26.38 kronor ($3.96) Friday in Stockholm.
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