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Communications Services Up After Strong Earnings Reports - Communications Services Roundup

10/19/2021 | 05:02pm EST

Communications services companies rose after strong earnings reports.

Swedish telecom-equipment giant Ericsson reported second-quarter net profit attributable to shareholders of roughly $665 million, up sharply from a year earlier, as increased sales of 5G equipment in North America, Europe and Latin America offset a decline in Chinese business.

Shares of Comcast unveiled a smart TV for the U.S. market, as the cable giant looks to become a dominant distributor of streaming apps and give a boost to its homegrown Peacock service.

Comcast could face tough comparisons with its upcoming third-quarter earnings report, said analysts at brokerage Morgan Stanley, reflecting "the inevitable unwind of Covid related strength over the past 18 months."

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

10-19-21 1701ET

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