Ericsson (ERIC) Misses On Q3 Earnings, Ups 2020 Sales View
Zacks Investment Research | Oct 16, 2019 10:33PM ET
Ericsson (BS:ERICAs) (NASDAQ:ERIC) reported mixed third-quarter 2019 financial results, wherein the top line beat the Zacks Consensus Estimate but the bottom line missed the same.
It should be noted that the Swedish telecom equipment maker’s operating income was impacted by a provision of SEK 11.5 billion related to a resolution of the investigations by SEC and DOJ in the United States.
Net Loss
On GAAP basis, net loss for the September quarter was SEK 6,229 million ($649.4 million) or loss of SEK 1.89 (20 cents) per share against net income of SEK 2,745 million or SEK 0.83 per share in the prior-year quarter. The year-over-year decline was primarily due to the above-mentioned cost provision.
Non-IFRS loss came in at SEK 1.80 (19 cents) per share against earnings of SEK 1.03 per share in the year-ago quarter. The bottom line compared unfavorably with the Zacks Consensus Estimate for earnings of 8 cents.
Ericsson Price, Consensus and EPS Surprise
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