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Ericsson Q2 revenues fall 1% on China slowdown, Networks still up strongly on 5G demand

Friday 16 July 2021 | 08:52 CET | News
Ericsson reported second-quarter revenues down 1 percent year-on-year to SEK 54.9 billion, hurt by a drop in sales in China. On an organic basis, excluding changes in scope and currency effects, revenues were up 8 percent, thanks to continued robust growth at its Networks division. Adjusted EBIT jumped 29 percent to SEK 5.8 billion, helped by improved operating leverage and the company's restructuring efforts, and net profit was up 51 percent to SEK 3.9 billion.

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Categories: Mobile & Wireless
Companies: Ericsson
Countries: World
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