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Ericsson net loss swells to SEK 10.9 billion in Q1

Tuesday 25 April 2017 | 08:32 CET | News
Ericsson saw its net loss swell to SEK 10.9 billion for the first quarter, as sales showed little improvement and the company took a number of charges for restructuring. The result included SEK 8.4 billion in provisions on customer contracts, SEK 3.3 billion in asset writedowns and SEK 1.7 billion in restructuring charges. In the year-earlier period, Ericsson still had a net profit of SEK 2.1 billion. Revenues showed little change from the trend in previous quarters, dropping by 11 percent year-on-year to SEK 46.4 billion. Adjusted operating profit declined to SEK 1.1 billion from SEK 4.1

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Categories: Mobile & Wireless
Countries: World
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