Ericsson Earnings: Here’s Why Shares are Up Now
LM Ericsson Telephone Co. (NASDAQ:ERIC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.35%.
LM Ericsson Telephone Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1000% to $0.99 in the quarter versus EPS of $0.09 in the year-earlier quarter.
Revenue: Rose 574.27% to $52 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: LM Ericsson Telephone Co. reported adjusted EPS income of $0.99 per share. By that measure, the company beat the mean analyst estimate of $0.14. It beat the average revenue estimate of $8.26 billion.
Quoting Management: “Sales showed positive development in the quarter with a growth of 2% YoY, despite currency headwind. Sales for comparable units, adjusted for FX and hedging, grew 7%,” said Hans Vestberg, President and CEO of Ericsson.
Key Stats (on next page)…
Revenue increased 402.01% from $10.36 billion in the previous quarter. EPS increased 518.75% from $0.16 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.16 to a profit $0.18. For the current year, the average estimate has moved up from a profit of $0.71 to a profit of $0.78 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)