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Ericsson Tumbles 14% on Lower Outlook: Restructuring for Years?

Shares of Ericsson (ERIC) are down 95 cents, or almost 14%, at $6.33, in early trading, after the company this morning reported Q2 revenue slightly below Street expectations, and a big miss on earnings, and projected further cost cutting.

Ericsson's CEO Börje Ekholm said the company was "not satisfied" with the results, and noted that the company's software sales suffered in comparison to a rise in the year-earlier quarter, and also were hit by "cautious mobile broadband investment levels."

Ericsson’s revenue in the three months ended in June was down 7.8%, year over year, at 49.9 billion Swedish Krona, missing consensus for 50.66 billion.

EPS came in at kr 0.17 per share, versus consensus of kr 0.33.

The company cut its outlook for its core “radio access network” market, saying it will likely fall...


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