Ericsson Posts Drop In Q2 Profit
Ericsson (NASDAQ: ERIC) reported a decline in its second-quarter earnings.
Ericsson's quarterly net profit dropped to 1.11 billion Swedish kronor ($159 million), versus SEK3.12 billion, in the year-ago quarter. Its gross margin dropped to 32.0% from 37.8%. However, analysts were expecting a net profit of SEK1.67 billion.
Its net sales declined to SEK55.32 billion from SEK54.77 billion, versus analysts' estimates of SEK54.5 billion.
Ericsson shares fell 0.84% to close at $8.31 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.