Ericsson (NASDAQ:ERIC) is expected to report third quarter earnings results, before market open, on Wednesday 21st October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.16 per share.
Looking ahead, the full year income are expected at $ 0.53 per share on the revenues of $ 25677.60 million.
Previous Quarter Performance
Ericsson announced income for the second quarter of $ 0.08 per share, from the revenue of $ 5,743.00 million. The quarterly earnings boosted 33.33 percent while revenues dropped 1.15 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.07 per share from $ 5558.15 million in revenue. The bottom line results beat street analysts by $ 0.01 or 14.29 percent, at the same time, top line results outshined analysts by $ 184.85 million or 3.33 percent.
Stock Performance
Shares of Ericsson traded up $ 0.19 or 1.74 percent on Tuesday, reaching $ 11.13 with volume of 14.89 million shares. Ericsson has traded high as $ 11.33 and has cracked $ 11.10 on the downward trend
The closing price of $ 11.13, representing a 77.89 % increase from the 52 week low of $ 6.15 and a 9.59 % decrease over the 52 week high of $ 12.10.
The company has a market capital of $ 37.36 billion and is part of the Technology sector and Communication Equipment industry.
Recent Analyst recommendations
- On 21st September 2020, maintained by Raymond James at Outperform rating, with $ 12.00 target price.
Conference Call
Ericsson will be hosting a conference call at 3:00 AM eastern time on 21st October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.ericsson.com
Telefonaktiebolaget LM Ericsson (publ) provides information and communications technology solutions for service providers. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment provides mobile radio access networks, transport solutions, and site solutions, as well as related services, such as network rollout, network tuning, and customer support.
