Why Telefonaktiebolaget LM Ericsson Shares Jumped 10% Today
Shares of Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) soared on Friday morning, following the telecom infrastructure specialist's release of third-quarter results. As of 9:55 a.m. EDT, Ericsson stock had gained 9.7% on heavy trading volume.
Nighttime close-up of Ericsson's Stockholm headquarters. Image source: Ericsson.
Ericsson's third-quarter sales decreased 6% year over year, landing at $5.9 billion. The company reports its results in the Swedish krona, and the U.S. dollar's value measured against that currency has fallen by 8.5% over the last 52 weeks. Accounting for that currency exchange effect, Ericsson's dollar revenues increased by 2%.
Source: Fool.com
Telefonaktiebolaget LM Ericsson B ADR Stock
€6.15
2.500%
With 3 Buy predictions and 2 Sell predictions the community is currently undecided on Telefonaktiebolaget LM Ericsson B ADR.
With a target price of 7 € there is a slightly positive potential of 13.82% for Telefonaktiebolaget LM Ericsson B ADR compared to the current price of 6.15 €.
