Earnings reports

Euronews: Oct. 22

Ericsson AB (Nasdaq: ERIC), Nokia Networks , and BT Group plc (NYSE: BT; London: BTA) are the shiny stones in today's swag bag of Euro telecom news gems.

  • Ericsson gave its investors something to cheer about as a positive combination of market trends helped it exceed third-quarter financial expectations. Its share price jumped nearly 6 percent as it reported revenues of 47.5 billion Swedish kronor (US$7.1 billion) and net income of SEK3.6 billion ($539 million). (See Stars Align for Ericsson's Q3 and Ericsson Reports Q3.)

  • Ericsson rival Nokia Siemens, which reported its third-quarter results yesterday, is also in crowing mode today, as it announced it has been chosen by Deutsche Telekom AG (NYSE: DT) to help build a Long Term Evolution (LTE) network that will utilize the carrier's 800MHz (digital dividend) spectrum. (See DT Does LTE With NSN , NSN: Parts-Shortage Problems Easing, DT Takes First Orders for LTE Service , and German Operators Get Busy With LTE .)

  • Happy days at UK giant BT... The High Court has taken some financial heat off the telco by ruling that the British government must guarantee to make good any deficit in BT's pension fund if it ever went bust, reports The Daily Telegraph. (See Euronews: July 14.)

  • In terms of actually doing things, BT has officially launched its smart grid consortium, dubbed SmartReach, in partnership with with radio and satellite specialist Arqiva and data management company Detica. (See BT Launches Smart Grid Consortium.)

  • Get in line, Euronerds: Windows 7 mobile phones go on sale in Europe today, reports The Guardian. The US has to wait until November 8. Like they say, everything the US gets, Europe gets first...

  • Indian service delivery and applications server specialist IMImobile is setting its sights on Europe now that it has completed its takeover of UK-based mobile advertising firm WIN plc . (See IMImobile Buys WIN.)

  • UK telecom regulator Ofcom is going to have to shed almost one-fifth of its workforce to fall in line with the cost savings demanded by the British government's Spending Review, reports The Guardian. (See British Broadband Cash Survives Cuts.)

  • Orange France is in talks with pay-TV firm Canal Plus regarding the possible sale of the telco's TV channels, reports Reuters, citing La Tribune.

  • Telecom firms are likely to figure strongly in wave of mass privatizations being proposed by the Russian government, reports the BBC. Up to 900 companies could be involved in the program.

  • No wonder Rupert wants to get his hands on it: UK triple-play provider Sky added 96,000 new subscribers in the most recent quarter, reports a probably slightly peeved BBC.

    Elsewhere in Europe:

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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