High increase of Ericsson’s profit for the 3rd quarter
The largest manufacturer of wireless network equipment in the world, Ericsson AB announced better than expected earnings for the third quarter after the mobile operators in North America, which are among the largest customers of the company tripled its increased costs for equipment delivered. The shares of Ericsson rose the most in six months after the Swedish company announced a net profit of 3.68 billion kroner (553 million dollars) for the third quarter. A year ago, its positive financial result was the amount of 810 million kroner. Market expectations were Ericsson to turn a profit of 3.52 billion kroner. Sales of the Stockholm-based company rose 2% yoy to 47.5 billion kroner, which was slightly below analysts' forecasts. The sales in North America, which is the largest market for Ericsson, rose by an impressive 223 percent because of investments in mobile operators' networks for high speed data access via smartphones and netbooks. The sales in China, however, failed to reach its level a year ago when the Asian country is building a 3G network. The shares of Ericsson rose 6.8 percent to 76.8 kronor on the Stockholm stock exchange following the publication of its accounts for the past quarter. The company opened more than 1000 IT Jobs London, which was increase the quality of the support for the devices in Western Europe and United Kingdom.
Cisco’s profit is increasing with 8% due to more sales
The largest manufacturer of networking equipment worldwide - Cisco Systems announced solid and increasing financial results for the 3rd quarter of 2010, but disappointed investors with a cautious forecast for the current quarter, which questioned the recovery of the technology sector. The leadership of the California-based company said the adjustment of their estimated results with the reduction of equipment orders from cable operators in the U.S. and government agencies. The communication shares fell on the technology giant with almost 13% in the hours after the regular session on the exchange Nasdaq. Since the beginning of this year the company's market capitalization has risen by 2.3 percent to 136.78 billion dollars. Cisco's net profit for the three months to 30 October, which for her are first fiscal quarter increased by 8% annually to 1.9 billion dollars, or 34 cents a share. An year ago, the positive financial result was the amount of 1,8 billion dollars, or 30 cents a share. Revenues increased for the sixth consecutive quarter, rising by 19% year on year to 10.75 billion dollars. Management, however, expects revenue to rise by 3 to 5% in the current quarter and a total of 9 to 12% during the current fiscal year. This is less than the target revenue growth of 12 to 17%, the company has set the long term.
Adidas with profit increase with the support of the World Cup
The World Cup has had strong support for the results of the German sporting goods company Adidas. Thanks to strong sales during the event, GW has made a profit of 126 million euros for the second quarter. For comparison, in the second quarter of 2009, profits of Adidas was 9 million, Air Force forward. The high gain is achieved due to growth in sales of 13 per cent. Much of what does is the result of contracts of the company that supplied equipment to some of the biggest forces in world football. Among the national teams that wear with Adidas, the world champions are from Spain and Germany, Argentina, France and other big teams. Furthermore the German company is an official partner of Fifa and produces balls that are played in World Cup meetings. During the quarter reached an increase of sales of the company in the U.S. with 16 percent, data show. The company realized good financial policy and repaid 5 Year Fixed Mortgage, which supported the profits for the second quarter of 2010.
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