0657 GMT - Ericsson's second quarter was saved by cost cutting, but the outlook appears uninspiring, Bernstein analyst Ulrich Rathe writes. Ericsson missed consensus on revenue and gross profit, but posted a beat on adjusted Ebita due to efficiency measures. The networks unit was soft across the board, with revenue missing guidance as management commented on project delays into the third quarter. The closely watched networks gross margin was guided down by about 1 percentage point for the third quarter, and even with revenue upside from project deferrals, the guidance is unlikely to drive networks Ebita consensus up, the bank adds. "Overall we see little to write home about here." Bernstein rates Ericsson stock at underperform with a 73 Swedish kronor price target. Shares closed at 112.75 kronor. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
July 14, 2026 02:57 ET (06:57 GMT)
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