UPDATE 3-Nokia shares jump after cull of low-margin business sees earnings beat [Reuters]
Ericsson - American Depositary Shares each representing 1 underlying Class B share (ERIC)
Last ericsson - american depositary shares each representing 1 underlying class b share earnings: 4/22 01:48 am
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Source: Reuters
Nokia culls low-margin business ahead of CEO change HELSINKI/STOCKHOLM (Reuters) - Finnish telecom network equipment maker Nokia ( NOKIA.HE ) reported an unexpected rise in its second-quarter underlying profit on lower revenues on Friday, as it reduced low-margin business before a new chief executive takes charge. Cutting less profitable service business and not winning 5G radio deals in the cut-throat Chinese market helped the company upgrade its earnings outlook for 2020 as new Chief Executive Officer Pekka Lundmark takes over this weekend. Quarterly revenue fell 11% and the company reduced its market share outlook to underperform from previous guidance of performing in-line with its main markets. “Our revenue will be lower than the market overall and it does mean it takes into account our prudent provisioning ... with regards to profitability,” outgoing Chief Executive Rajeev Suri told reporters on a call. The company estimated that COVID-19 reduced net sales by about 500 million
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High impacting Ericsson - American Depositary Shares each representing 1 underlying Class B share news events
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ERIC
News
- Telefonaktiebolaget LM Ericsson (publ) (NASDAQ: ERIC) had its price target lowered by analysts at JPMorgan Chase & Co. from $5.81 to $5.58. They now have a "neutral" rating on the stock.MarketBeat
- Nex-Tech Wireless partners with Ericsson to Keep Kansans Connected with innovative technologiesPR Newswire
- Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- European Stocks Sink in Worst Day Since July on Rates, War Fears [Yahoo! Finance]Yahoo! Finance
- European Stocks Sink in Worst Day Since July on Rates, War Fears [BNN Bloomberg (Canada)]BNN Bloomberg
ERIC
Earnings
- 4/16/24 - Beat
ERIC
Sec Filings
- 4/17/24 - Form 6-K
- 4/4/24 - Form 6-K
- 3/20/24 - Form 6-K
- ERIC's page on the SEC website