T - Ericsson Gains Premarket After Q2 Print What's Going On? | Benzinga
Ericsson (NASDAQ:ERIC) reported second-quarter fiscal 2024 results. The stock price climbed after the print.
Sales declined 7% year-over-year to 59.8 billion Swedish Krona. In USD, sales of $5.597 billion beat the analyst consensus estimate of $5.363 billion. The sales decline was due to an 11% decrease in Networks.
Group organic sales declined by 7% Y/Y. Organic sales were stable in Cloud Software and Services and Enterprise.
Adjusted gross margin improved to 43.9% from 38.3% Y/Y, driven primarily by improved gross margin in Networks.
Adjusted EBIT margin was (19.9)% versus 4.4% Y/Y due to a non-cash impairment loss relating to the Vonage acquisition. Adjusted EBITA margin improved to 6.8% from 5.7% a year ago.
Ericsson reported an EPS loss of SEK (3.34) versus SEK (0.21) ...