Ericsson ADRs (ERIC) are jumping this morning, after the Swedish telecom equipment giant reported mixed third-quarter earnings and, despite warning of challenges to come, appeared to be making some progress with its turnaround efforts.
Ericsson said that the firm lost 55 cents a share, much higher than analysts expected, and its fourth consecutive quarterly loss. Revenues fell 6.5% year over year to $47.8 billion, although that was ahead of the $47.2 billion consensus estimate.
Ericsson’s Radio Access Network equipment business will decline about 8% for the full year, but that was in-line with previous estimates and consensus estimates. Moreover, there were other hopeful signs in the quarter: Margins in …
Read the full article at: http://www.barrons.com/articles/restructuring-plan-boosts-ericsson-cfo-sees-solid-turnaround-1508507998