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Before the market opened, shares of Swedish telecommunications equipment behemoth Ericsson (ERIC.US) took a significant hit, plummeting 8.87% to trade at $10.68. The company's financial report for the second quarter of 2026 revealed that net sales for the period dipped 6.1% year-on-year, reaching SEK 52.69 billion (equivalent to approximately $5.61 billion), primarily due to a downturn in patent licensing revenue. This figure fell short of market anticipations. Concurrently, net profit witnessed a 12% year-on-year decrease, landing at SEK 4.1 billion. Nevertheless, there were silver linings: the adjusted gross margin climbed to 48.4%, and adjusted EBITA soared to SEK 6.9 billion, boasting a profit margin of 13.1%—both surpassing analyst expectations.
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