News about Ericsson

Ericsson (ERIC) shares opened 11.3% higher on Thursday after a strong Q3 report, and were still 8.2% above Wednesday's close at 1:12 p.m. ET. Revenue rose 5.9% to 59.5 billion SEK, above the 55.3 billion SEK analysts had expected, while earnings per share fell 24% to 1.77 SEK, still above the 1.55 SEK consensus. The stock remains 10% below its level before the Q2 report. CEO Per Narvinger said demand for radio access network (RAN) equipment is flat while component costs are rising, and that structural fixes will take time because many customer contracts are multiyear, calling 2027 a 'transition period.' The article argues the rally should not be mistaken for a turnaround.