MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: German Insolvency Rate Slows, 2025 Pickup Expected

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Ericsson Beats On Operating Income Despite Slightly Soft Sales

TECHNOLOGY
  • Q1 results missed slightly on net sales (by 3%) with an organic decline of 14% YoY but saw a large beat on adj-EBIT which came in +35% YoY at EUR 4.3bn vs. the EUR 2bn median BBG consensus. Adj-EBIT beat across all three segments including by 6% in the important Networks segment (around two-thirds of the business).
  • Credit metrics look stable; FCF of SEK 3.7bn compared to negative SEK 8bn in Q123 and SEK 12.5bn in Q423 on the back of working capital benefits to give gross cash of SEK 52bn (from 54.7bn at FY23), net cash of SEK 10.8bn (from SEK 7.8bn at FY23). No mention of debt/leverage.
  • CEO expects further decline in the RAN market through at least the end of the year and views the -4% Dell’Oro estimate as possible optimistic. Expects sales stabilisation in H2.
  • Spreads muted in early streaming; EUR 27s 3bps wider, 28s 3bps tighter
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.