Ericsson Shares Jump as Sales, Margins Beat Estimates
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Ericsson AB, the biggest maker of wireless networks, reported sales and profit margins that topped analysts’ estimates, helped by contracts in China and the Middle East. The shares jumped the most in three years.
Second-quarter sales were 54.8 billion kronor ($8 billion), compared with the 52.5 billion-krona average estimate of 20 analysts surveyed by Bloomberg. The gross margin, a key measure of profitability, rose 4 percentage points to 36.4 percent, Stockholm-based Ericsson said in a statement today. Analysts had projected 35.5 percent.