Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Sweden
  4. Nasdaq Stockholm
  5. ERICSSON
  6. News
  7. Summary
    ERIC B   SE0000108656

ERICSSON

(ERIC B)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Ericsson Cautions on Falling Sales in China

07/16/2021 | 12:02am EDT

By Dominic Chopping

STOCKHOLM--Ericsson AB on Friday announced an $8.3 billion multiyear 5G deal from Verizon Communications Inc. as it posted a second-quarter net profit that beat expectations, but cautioned that delayed 5G deployments in mainland China weighed on sales.

The telecommunications-equipment company reported second-quarter net profit attributable to shareholders of 3.68 billion kronor ($424.6 million) compared with SEK2.45 billion for the year-earlier period.

Sales slipped 1.1% to SEK54.94 billion after sales in mainland China fell by SEK2.5 billion in the quarter.

Analysts polled by FactSet had expected net profit of SEK3.58 billion on sales of SEK57.26 billion.

Ericsson previously warned that Sweden's ban on using certain Chinese gear in the country could see the company face retaliation, and it said Friday that it is now "prudent to forecast a materially lower market share in mainland China for networks and digital services."

Sales of network equipment rose 11% on year, on an adjusted basis, with the company having continued high activity levels in most markets, while gross margin at the unit rose to 47.9% from 40.5%.

The company said through proactive and continuous measures for supply-chain resilience, it has accelerated production to meet customer demand.

Ericsson said it now expects the global radio access network equipment market to grow by 10% in 2021, from 3% previously.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

07-16-21 0202ET

Stocks mentioned in the article
ChangeLast1st jan.
ERICSSON -1.88% 98.45 Delayed Quote.2.77%
VERIZON COMMUNICATIONS -0.28% 54.28 Delayed Quote.-7.11%
All news about ERICSSON
09/09US Court Indicts Former Ericsson Staff Over Bribery Scandal in Djibouti
MT
09/08ERICSSON : U.S. charges former Ericsson employee over bribery scheme
RE
09/08TPG TELECOM : and Ericsson announce 5G Core partnership for standalone 5G networ..
AQ
09/08ERICSSON : and Unikie optimize factory parking with a 5G private network and aut..
AQ
09/08ERICSSON : boosts Network Services portfolio with Intelligent Deployment
AQ
09/07Investor AB Subsidiary Buys Defibrillator Distributor Allied 100 for $290 Mil..
DJ
09/06Ericsson Appoints Andres Vicente as Iberia CEO, Effective 01 October 2021
CI
09/06Ericsson CEO To Not Give Up On China Easily
MT
09/03Exclusive-Ericsson CEO to double down on China as 5G tussle rumbles on
RE
09/03VODAFONE : Ericsson, Vodafone's 5G Radio Trial Halves Network Energy Use
MT
More news
Analyst Recommendations on ERICSSON
More recommendations
Financials
Sales 2021 234 B 26 925 M 26 925 M
Net income 2021 18 331 M 2 112 M 2 112 M
Net cash 2021 33 725 M 3 885 M 3 885 M
P/E ratio 2021 17,9x
Yield 2021 2,16%
Capitalization 328 B 37 748 M 37 763 M
EV / Sales 2021 1,26x
EV / Sales 2022 1,17x
Nbr of Employees 101 624
Free-Float 89,4%
Chart ERICSSON
Duration : Period :
ERICSSON Technical Analysis Chart | ERIC B | SE0000108656 | MarketScreener
Technical analysis trends ERICSSON
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 98,45 SEK
Average target price 129,23 SEK
Spread / Average Target 31,3%
EPS Revisions
Managers and Directors
Erik Börje Ekholm President, Chief Executive Officer & Director
Carl Mellander CFO, Senior VP & Head-Group Function Finance
Ronnie Leten Chairman
Erik Ekudden Chief Technology Officer & Senior Vice President
Xavier Dedullen Secretary, Chief Legal Officer & Senior VP
Sector and Competitors
1st jan.Capi. (M$)
ERICSSON2.77%38 715
CISCO SYSTEMS, INC.28.11%241 803
MOTOROLA SOLUTIONS, INC.42.49%41 031
FOXCONN INDUSTRIAL INTERNET CO., LTD.-14.17%36 152
NOKIA OYJ52.75%31 970
ARISTA NETWORKS, INC.25.59%27 996