ERIC / Ericsson shares drop as telecom equipment maker withdraws 2024 guidance

Ericsson (ERIC) reports lower revenues year over year for the third quarter of 2023 due to declining trends in the Networks vertical. more_horizontal

Ericsson (NASDAQ: ERIC ) stock is sliding lower on Tuesday after the telecommunications company released its earnings report for the third quarter of more_horizontal

Börje Ekholm, CEO of Ericsson, discusses third-quarter earnings and explains the company's strategy behind its acquisition of communications company, more_horizontal

Ericsson's decision not to offer any guidance beyond the fourth quarter, citing market uncertainty, is spooking telecom investors. more_horizontal

Tempest Therapeutics TPST, +85.16%, whose stock has gained 2710% over the last five days, saw its stock rise by 8% in premarket trade. more_horizontal

Shares of Ericsson fell as much as 9% in Stockholm trade as the Swedish telecommunications equipment maker withdrew its margin guidance for next year. more_horizontal

Ericsson's (ERIC) third-quarter 2023 top line is impacted by weak demand in North America and a slowdown in Vonage's core market. more_horizontal

The U.S.-listed shares ERIC, -1.96% ERIC.B, -0.71% of Ericsson accelerated to the downside in afternoon trading Wednesday, after the Sweden-based make more_horizontal