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Ericsson profit misses consensus by 19.8% in Q2

Ericsson said its second-quarter normalized net income was 1.03 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.29 kronor per share.

EPS increased 38.3% year over year from 75 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.39 billion kronor, an increase of 38.8% from 2.45 billion kronor in the prior-year period.

The normalized profit margin climbed to 5.6% from 4.5% in the year-earlier period.

Total revenue grew 10.6% year over year to 60.67 billion kronor from 54.85 billion kronor, and total operating expenses grew 10.6% on an annual basis to 55.29 billion kronor from 50.00 billion kronor.

Reported net income declined 18.7% from the prior-year period to 2.10 billion kronor, or 64 öre per share, from 2.58 billion kronor, or 79 öre per share.

As of July 17, US$1 was equivalent to 8.63 Swedish kronor.