Ericsson misses expectations

Ericsson reports third-quarter profitability and sales that missed analysts’ estimates. |||
Stockholm – Ericsson reported third-quarter profitability and sales that missed analysts’ estimates as business in Japan, Russia and Brazil slumped and spending slowed in China on fourth-generation networks that power smartphones and tablets. The shares fell the most in two months in Stockholm.The gross margin, or the percentage of sales left after subtracting production costs, was 34.5 percent excluding some items, the network-equipment maker said in a statement on Friday. Analysts predicted 35.3 percent, the average of estimates compiled by Bloomberg. Sales rose about 3 …read more

Source: Independent Online

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