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Friday, July 16, 2021

-=Ericsson (ERIC) reported earnings on Fri 16 Jul 21 (b/o)

  • Shares in the telecommunications equipment company—a rival to the likes of Nokia and Huawei—fell more than 8% in Stockholm.   


Ericsson misses by SEK0.13, misses on revs
  • Reports Q2 (Jun) earnings of SEK1.10 per share, SEK0.13 worse than the S&P Capital IQ Consensus of SEK1.23; revenues fell 1.3% year/year to SEK54.9 bln vs the SEK57.58 bln S&P Capital IQ Consensus.
Ericsson has a big problem in China. Geopolitical tensions over 5G equipment have put the Swedish telecom company under pressure in a key market, with a significant decline in Chinese business in the second quarter of 2021 weighing down otherwise strong financial results.


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