STOCKHOLM (AP) — STOCKHOLM (AP) — Ericsson (ERIC) on Friday reported a loss of $1.04 billion in its second quarter.
The Stockholm-based company said it had a loss of 31 cents per share. Earnings, adjusted for asset impairment costs, were 1 cent per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The telecommunications equipment provider posted revenue of $5.6 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $5.29 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ERIC at https://www.zacks.com/ap/ERIC
