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Ericsson cuts dividend after Q4 loss on restructuring costs

Thursday 26 January 2017 | 08:20 CET | News
Ericsson reported a net loss of SEK 1.6 billion for the fourth quarter compared to a profit of SEK 7.0 billion a year earlier, due to increased restructuring charges and continued weakness in the mobile broadband market. The company said it accelerated its restructuring plans in the quarter, and full-year charges reached SEK 7.6 billion compared with an estimated SEK 5.5-6.5 billion. Quarterly revenues dropped 11 percent to SEK 65.2 billion. This was mainly due to a drop in licensing revenues after exceptional payments from the Apple deal a year earlier, while sales otherwise benefited from

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Categories: Mobile & Wireless
Companies: Apple
Countries: World
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