Ericsson shares skid after missing profit expectations

Ericsson
ERIC.B,
-7.53%
ERIC,
+2.04%
shares fell as much as 12% in Stockholm trade as the Swedish telecommunications equipment maker reported weaker-than-forecast earnings. Ericsson’s bottom line was pressured by supply-chain issues and inflationary pressure on components, according to UBS analysts, who expect consensus earnings before interest and tax expectations for the year to fall by a mid single-digit percentage.