What's Going On With Ericsson Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Ericsson (NASDAQ:ERIC) reported Q2 FY23 results with sales growth of 3% YoY to $6.125 billion, in line with consensus. However, group organic sales declined by 9% YoY, with Networks' organic sales decreasing by 13%. The company reported an EPS loss of SEK (0.21) versus SEK 1.35 last year. Adjusted EPS of $0.07 beat the consensus of $0.04. The company expects Q3 EBITA margin to align with or be slightly higher than Q2. ERIC shares traded lower by 8.89% premarket.
July 14, 2023 | 9:38 am
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Ericsson's Q2 FY23 results showed mixed performance with sales growth but a decline in organic sales and EPS loss. The stock traded lower premarket.
Ericsson's Q2 FY23 results showed a mixed performance with sales growth in line with consensus but a decline in organic sales and an EPS loss. This mixed performance, along with the company's outlook for Q3, likely contributed to the stock trading lower premarket.
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