Ericsson and Nokia shares plunge after gloomy updates

Ericsson’s Q2 23 numbers were in line with expectations but its share price fell after competitor Nokia lowered its outlook for the year.
A sales decline of 9% year-on-year for Ericsson was what it had anticipated and even exceeded some analyst expectations so, in the absence of any significant change in its own outlook, it would be reasonable to expect its share price to be unmoved by its latest earnings. But major competitor Nokia chose today to announce a downgrade of its outlook for th