Ericsson To Help MasMovil With Network Evolution & Services
Zacks Investment Research | Jun 08, 2017 09:12PM ET
Ericsson (BS:ERICAs) (NASDAQ:ERIC) signed a strategic agreement to provide a broad array of solutions and services to MÁSMÓVIL — the fourth largest Spanish operator. The services would include core network evolution based on Network Functions Virtualization, managed and systems support services, enterprise billing, and deployment, installation and maintenance of fiber to the home.
MÁSMÓVIL subscribers will, thus, gain access to a superior consolidated network and new services like Voice over LTE, Wi-Fi calling and fixed VoIP. MÁSMÓVIL will also be able to offer innovative and flexible service bundles and billing to enterprises.
Of late, Ericsson has been witnessing frequent earnings misses, eroding profitability and steep revenue decline. Particularly, write-downs and restructuring costs have put pressure on its bottom line significantly in recent times.
In its latest earnings report, Ericsson reported a huge non-IFRS loss of SEK 2.42 (27 cents) per share, which compared unfavorably with the Zacks Consensus Estimate of earnings of 3 cents. Not surprisingly, the stock has lost 1.8% over the past one year, as against the Zacks categorized Zacks Investment Research
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