Benzinga | Jul 17, 2020 07:28AM EDT

Recap: Ericsson Q2 Earnings

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) rose 9.7% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 33.33% year over year to $0.08, which beat the estimate of $0.07.

Revenue of $5,743,000,000 decreased by 4.74% from the same period last year, which beat the estimate of $5,560,000,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Telefonaktiebolaget L M hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Jul 17, 2020

Time: 03:00 AM

ET Webcast URL: https://www.ericsson.com/en/investors/events-and-presentations

Price Action

Company's 52-week high was at $10.00

52-week low: $6.15

Price action over last quarter: Up 27.72%

Company Overview

Ericsson is leading supplier within the telecommunications equipment sector. The company's three major operating segments are networks, digital services, and managed services. Ericsson sells hardware, software, and services primarily to communication service providers while licensing patents to handset manufacturers. The Stockholm, Sweden-based company derives sales worldwide and had 95,000 employees as of June.