Electrolux Reports Decline In Q3 Profit

Electrolux AB

reported a decline in its third-quarter net profit. Electrolux's quarterly net profit dropped to 826 million Swedish kronor ($130.2 million), from SEK1.38 billion, in the year-ago period. However analysts were expecting net profit of SEK786.7 million. Its sales declined to SEK25.65 billion from SEK26.33 billion, versus analysts' estimates of SEK25.22 billion. Electrolux's operating income dipped to SEK1.06 billion from SEK1.98 billion. Electrolux shares gained 4.72% to close at $37.49 yesterday.