Ericsson Q2 core profit below forecast

STOCKHOLM, July 23 (BestGrowthStock) – Ericsson, the world’s number
one mobile network gear maker, posted second-quarter core
operating profit below expectations on Friday and said operators
in some markets remained cautious in making investments.
Operating profit, excluding joint ventures and restructuring
costs, was 5.3 billion Swedish crowns ($715 million) against a
forecast of 5.8 billion in a Reuters poll of analysts and 6.1
billion in the year-ago period. [ID:nLDE66E10B]

Sales were down 8 percent year-on-year at 48 billion crowns
versus a forecast of 50.5 billion.

On Thursday, rival Nokia Siemens Networks [NSN.UL] reported
sales down 5 percent in the quarter. [ID:nSAT008682]

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Ericsson Q2 core profit below forecast