Telefonaktiebolaget LM Ericsson reports results for the quarter ended in June - Earnings Summary
Telefonaktiebolaget LM Ericsson ERICb.ST reported a quarterly adjusted loss of SEK2.85 per share for the quarter ended in June, lower than the same quarter last year, when the company reported EPS of 71 øre. The mean expectation of thirteen analysts for the quarter was for earnings of 58 øre per share. Wall Street expected results to range from 28 cents to 76 øre per share.
Revenue fell 7.1% to SEK59.85 billion from a year ago; analysts expected $58.28 billion.
Telefonaktiebolaget LM Ericsson's reported EPS for the quarter was a loss of SEK3.34.
The company reported a quarterly loss of SEK11.13 billion.
Telefonaktiebolaget LM Ericsson shares had risen by 3.2% this quarter and gained 7.6% so far this year.
FORECAST CHANGES
The mean earnings estimate of analysts had risen by about 2.3% in the last three months.
In the last 30 days, three analysts negatively revised earnings estimates
RECOMMENDATIONS
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy," 8 "hold" and 8 "sell" or "strong sell."
The average consensus recommendation for the communications & networking peer group is also "hold"
Wall Street's median 12-month price target for Telefonaktiebolaget LM Ericsson is SEK60.00
This summary was machine generated from LSEG data July 12 at 06:01 a.m. UTC. All figures in Swedish crowns unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)
QUARTER ENDING | ESTIMATE | ACTUAL | BEAT, MET, MISSED |
Jun. 30 2024 | 0.58 | -2.85 | Missed |
Mar. 31 2024 | 0.32 | 0.83 | Beat |
Dec. 31 2023 | 1.30 | 1.73 | Beat |
Sep. 30 2023 | 0.72 | 0.89 | Beat |
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