Ericsson: share in demand after targets raised
(CercleFinance.com) - Ericsson B shares jumped 6.
7% on the OMX this morning, after the telecom equipment maker posted quarterly results which included a hike in its target range for revenues for 2020, which it now expects will be between 230 billion and 240 billion Swedish kronor (about 21.2-22.2 billion euros), against a previous range of 210 billion to 220 billion Swedish kronor.
Although the group has left its forecast for an operating margin excluding restructuring charges unchanged for next year, at "over 10%;" the Scandinavian group says it now expects between 12% and 14% for 2022, and no longer "over 12%".
Over the past quarter, Ericsson has improved its non-recurrent operating margin by 4.4 points to 11.4%, for revenue that is up 6% at 57.1 billion Swedish kronor (about 5.3 billion euros; +3% in adjusted data for comparable units and exchange rates).
Copyright (c) 2019 CercleFinance.com. All rights reserved.
7% on the OMX this morning, after the telecom equipment maker posted quarterly results which included a hike in its target range for revenues for 2020, which it now expects will be between 230 billion and 240 billion Swedish kronor (about 21.2-22.2 billion euros), against a previous range of 210 billion to 220 billion Swedish kronor.
Although the group has left its forecast for an operating margin excluding restructuring charges unchanged for next year, at "over 10%;" the Scandinavian group says it now expects between 12% and 14% for 2022, and no longer "over 12%".
Over the past quarter, Ericsson has improved its non-recurrent operating margin by 4.4 points to 11.4%, for revenue that is up 6% at 57.1 billion Swedish kronor (about 5.3 billion euros; +3% in adjusted data for comparable units and exchange rates).
Copyright (c) 2019 CercleFinance.com. All rights reserved.