Ericsson secures its spot on the Chinese 5G market
Ericsson
– the Swedish telecommunications company, reported Q3 earnings that impressed
the markets.
In Q3, the operating earnings figures came in at $1 billion,
topping both the last year’s figures and this year’s market’s estimates of $798
million. Its overall revenue went up 1% to $6.575 billion.
The fact that the US government has pushed the 5G market
leader out of the picture made Ericsson win 112 5G contracts.
Ericsson is confident about the future, as it is confident
in meeting the 2020 targets. All of it has to do with its contracts with China
that have developed as planned.
In a separate statement, Ericsson revealed a five-year
multi-billion-dollar business with Telia to improve the 4G networks in Estonia
and Sweden.
Following the news, Ericsson stock price gained more than
10%.
Read more financial reports on ClickTrades.com!
Sources: cnbc.com, finance.yahoo.com
This information prepared by ClickTrades.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.
This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of ClickTrades.com.
Previous Article
UBS’s Q3 performance tops expectations
Next Article
Chipotle showed resilience in Q3
