Revenue Prioritized Over Margins in Ericsson's 2Q, Pressure to Continue; Maintaining SEK 81 FVE
No-moat Ericsson's second-quarter revenue of SEK 54.8 billion was well above consensus, but quarterly margin impacts are expected to persist. We have been skeptical about its ability to stave off the temptation of sacrificing margins for revenue gains, and this quarter showcased the decision to grab a larger network footprint and attempt to gain margins over the lifetime of contracts. Ericsson reaffirmed the expectation to hit 2020 margin targets, which we view as a more challenging goal with a ...Ericsson provides communications technology and services. Co.'s services, software and infrastructure – especially in mobility, broadband and the cloud – enable the telecom industry and other sectors to do business, increase efficiency, improve the user experience and capture new opportunities. Co. has more than 110,000 professionals and customers in more than 180 countries. Co. provides support for networks with more than 2.5 billion subscribers. Co.'s core business areas are called Radio, Core and Transmission and Telecom Services. Co. divides its operations into three business segments: Networks, Global Services and Support Solutions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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