Ericsson: 2Q Earnings Snapshot
STOCKHOLM (AP) _ Ericsson (ERIC) on Wednesday reported second-quarter net income of $180.6 million, after reporting a loss in the same period a year earlier.
The Stockholm-based company said it had profit of 5 cents per share. Earnings, adjusted for amortization costs and restructuring costs, were 6 cents per share.
The results did not meet 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 $5.8 billion in the period.
Ericsson shares have climbed 8% since the beginning of the year. The stock has risen 25% in the last 12 months.