瑞银分析师Francois-Xavier Bouvignies指出，爱立信公布第二季度业绩后，其全年息税前利润（EBIT）共识预期可能面临低至中单位数百分点的下调。受强势货币造成的显著汇率逆风影响，该公司当季营收较市场预期低6%。若排除一次性专利许可收入，其息税摊销前利润（EBITA）低于共识预期达9%。
爱立信在财报中强调，受关税政策变动及宏观经济环境双重影响，第三季度业绩前景不确定性加剧。网络设备销售额预计将低于历史三年平均3%的季节性增幅，而云软件及服务销售则有望维持1%的常规季节性水平。
"我们预计第三季度销售额将低于市场共识5%-10%，"瑞银在报告中明确表示。此消息引发市场抛售，爱立信股价应声下挫3.5%。截至欧洲中部时间16:32（北京时间22:32），该股延续跌势。
值得关注的是，汇率波动对营收的实际冲击超出分析师普遍预期，而专利授权收入的非常规性更凸显核心业务面临的挑战。随着5G基础设施建设周期进入平台期，叠加全球贸易环境波动，通信设备巨头的增长路径正遭遇多重逆风。
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