Ericsson (ADR) (ERIC) reported quarterly earnings results on Tuesday, Jul-19-2016. The company reported $0.83 earnings per share for the quarter, missing the analyst consensus estimate by $-0.30. Analysts had a consensus of $1.13. The company posted revenue of $54108.00 million in the period, compared to analysts expectations of $55172.33 million. The company’s revenue was down -10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS.
Many Wall Street Analysts have commented on Ericsson (ADR). Ericsson (ADR) was Upgraded by Goldman to ” Neutral” on Jun 21, 2016. Ericsson (ADR) was Downgraded by BofA/Merrill to ” Neutral” on Apr 21, 2016.
Ericsson (ADR) closed down -0.05 points or -0.64% at $7.77 with 23,11,366 shares getting traded on Friday. Post opening the session at $7.82, the shares hit an intraday low of $7.77 and an intraday high of $7.82 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Telefonaktiebolaget LM Ericsson (Ericsson) is a provider of communications technology and services. Ericsson offers services software and infrastructure for mobility broadband and the cloud in telecom industry and other sectors. Its two core businesses are Radio Core and Transmission and Telecom Services. Ericsson operates in four business segments: Networks Global Services Support Solutions and Modems. It invests in five targeted areas: Internet protocol (IP) Networks; Cloud; operations and business support systems (OSS) and business support systems (BSS); TV and Media and Industry and Society. Radio Core and Transmission as well as IP Networks and Cloud report into Networks segment and Telecom Services report into Global Services segment. The product and software deliveries of OSS and BSS TV & Media report into Support Solutions segment while services related to these areas report into Global Services segment. Industry and Society reports into Global Services segment.