Ericsson Earnings Miss Estimates. The Stock Is Tumbling.

Ericsson stock tumbled more than 14% early Thursday after the Swedish telecom giant’s earnings missed expectations in the third quarter.

The telecom equipment maker reported adjusted earnings per share of 1.56 Swedish crowns (14 cents), 10% lower than the year-ago period and below the analyst consensus of 1.77 Swedish crowns, according to FactSet.