Ericsson’s second-quarter core profit misses estimates

2022.07.14 08:32

FILE PHOTO: Ericsson logo is seen at its headquarters in Stockholm, Sweden June 14, 2018. REUTERS/Olof Swahnberg

STOCKHOLM (Reuters) – Sweden’s Ericsson (BS:ERICAs), under the shadow of bribery investigations, on Thursday reported a rise in second-quarter core earnings but missed expectations as increased component and logistics costs hit margins.

The company’s quarterly adjusted operating earnings rose to 7.3 billion Swedish crowns ($689.28 million) from 5.8 billion a year earlier, missing analysts’ mean forecast of 8.01 billion, according to Refinitiv data.

($1 = 10.5908 Swedish crowns)

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