0822 GMT - Ericsson headline numbers are on the soft side, with adjusted EBIT missing Bloomberg consensus by 5%, but sales registered a slight 1% beat, Danske Bank senior analyst Mads Lindegaard Rosendal writes. Ericsson's topline grew 2% on year, which masked vast regional differences, he says. The U.S. grew 54% on year while other regions declined sharply. "In terms of forward-looking guidance, the report was decent, with Ericsson expecting a gradual recovery in the radio access network market with first quarter 2025 growth in networks roughly in line with the groups three year average." Rosendal says Ericsson has done very well in terms of controlling costs and generating cash flow. Shares fall 8.9% to 88.90 Swedish kronor. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
January 24, 2025 03:22 ET (08:22 GMT)
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