Why Ericsson's Shares Lost Signal Today

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) traded 9.6% lower at 10:30 a.m. ET today, following an underwhelming first-quarter earnings report.

The Swedish telecom infrastructure specialist saw first-quarter sales rise 11% in constant currencies, landing at $5.9 billion. Adjusted earnings jumped from $0.07 to $0.12 per American depositary share (ADS). The top-line result was in line with Street estimates, but your average analyst was looking for earnings near $0.15 per ADS.

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Source Fool.com