Ericsson shares hit four-year high after profit tops forecasts for fifth quarter
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STOCKHOLM (Reuters) - Ericsson posted a first-quarter profit on Wednesday that swept past forecasts due to strong growth in North America and cost cuts, spurring the telecom equipment maker to boost its full-year outlook for the global networks market.Its shares rose more than 3 percent to a four-year high. Profit beat expectations for a fifth straight quarter, as the Swedish company slashes costs following an industry-wide downturn in the middle of the decade, and as a new cycle of network..