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Ericsson (ERIC) Q2 Earnings Miss Estimates, Top Line Falls
ERICEricsson(ERIC) ZACKS·2024-07-12 15:05

Ericsson reported a net loss of SEK 11 billion (1.03billion)oralossofSEK3.34(31cents)pershareinthesecondquartercomparedwithanetlossofSEK0.6billionorSEK0.21pershareintheprior−yearquarter.Non−cashimpairmentchargesofSEK11.4billionandadeclineinnetsalesimpactedthebottomlineduringthequarter.Adjustedearningscameinatapennypershare,missingtheZacksConsensusEstimateof5cents.TheNetworkssegmentgeneratedSEK37.7billion(1.03 billion) or a loss of SEK 3.34 (31 cents) per share in the second quarter compared with a net loss of SEK 0.6 billion or SEK 0.21 per share in the prior-year quarter. Non-cash impairment charges of SEK 11.4 billion and a decline in net sales impacted the bottom line during the quarter. Adjusted earnings came in at a penny per share, missing the Zacks Consensus Estimate of 5 cents. The Networks segment generated SEK 37.7 billion (3.53 billion), down 11% ...