The earnings season is in full swing, with major companies opening their books this week. Telecommunications giant Ericsson reported revenue in line with expectations, while profitability improved significantly. EBITA increased from 4.9 billion SEK last year to 6.7 billion SEK. The stock rose 7% on the report and is up 16% in just one week.
Nordea, the first major bank to report, saw operating profit slightly higher than expected for the first quarter. Revenue was slightly below the same quarter last year but in line with expectations. The stock has risen nearly 12% since last week.
Online broker Avanza reported revenue that exceeded both last year’s figure and consensus estimates. With 1,152 million SEK compared to expected 1,108 million SEK. The operating profit of 818 million SEK also exceeded the expected 761 million SEK. The stock rose slightly on the report and is up nearly 16% in a week.
Industrial giants deliver
One stock that surged on the report was Autoliv. Despite lower revenue compared to last year, the vehicle safety company exceeded expectations with an operating profit that was over 25% better than expected. The stock surged around 10% on the report.
Sandvik also reported a higher adjusted EBITA at 5,786 million SEK compared to last year’s 5,281 million SEK. However, this was lower than the consensus where analysts expected 5,944 million SEK. There were no major movements in the stock on the report, with the stock up just over 7% in a week.
ABB reported on Thursday, with revenue slightly lower than consensus but EBITA still exceeding expectations by about 10%. The stock rose significantly at the opening but the gains tapered off during the day, closing up 0.2%.
Fabege misses on key metrics
Real estate company Fabege met expectations with revenue at 865 million SEK compared to 862 million SEK. However, the operating net income was lower than expected, as well as the management result: 286 million SEK compared to the expected 336 million SEK. The net income was -151 million SEK. The stock declined slightly on the report but is up nearly 12% in a week.
Overall, the earnings season has seen a mix of results with some companies exceeding expectations and others falling short. Investors will be closely watching future reports to gauge the overall health of the economy and individual sectors. Stay tuned for more updates on the latest earnings reports and market trends.