Ericsson: 2Q Earnings Snapshot
Posted Jul 17, 2020 06:05:03 AM.
Last Updated Jul 17, 2020 06:10:10 AM.
This article is more than 5 years old.
STOCKHOLM (AP) _ Ericsson (ERIC) on Friday reported second-quarter profit of $253.3 million.
On a per-share basis, the Stockholm-based company said it had profit of 8 cents. Earnings, adjusted for restructuring costs and amortization costs, came to 10 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The telecommunications equipment provider posted revenue of $5.74 billion in the period.
Ericsson shares have increased nearly 10% since the beginning of the year. The stock has increased slightly in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ERIC at https://www.zacks.com/ap/ERIC
The Associated Press
