Sales in Americas Boost Electrolux Earnings
Thank goodness for Electrolux AB's Americas market.
Appliance sales in North and South America, which account for half of the Swedish company's total sales, propelled Electrolux to a 32 percent jump in earnings to $46 million in the fourth quarter.
However, that fell short of the earnings expected by analysts surveyed by Bloomberg. Shortly before financial markets closed Friday, Electrolux shares were trading at $48.96, down 7.8 percent from Thursday's closing price.