Sunday, 24 September 2017

Ericsson swings to Q1 loss on heavy writedowns

By Nick Wood, Total Telecom
Tuesday 25 April 17

Struggling Swedish kit maker reports 11% fall in revenue on weak mobile broadband demand.

Ericsson swung to a hefty net loss in the first quarter of 2017, as its previously-announced strategic overhaul led to writedowns and restructuring charges totalling SEK13.4 billion (€139 billion). If that wasn't bad enough, the Swedish kit maker saw worrying declines in revenue across its business areas. SEK8.4 billion of the aforementioned charges related to additional costs incurred by the IT and Cloud division…

Ericsson swung to a hefty net loss in the first quarter of 2017, as its previously-announced strategic overhaul led to writedowns and restructuring charges totalling SEK13.4 billion (€139 billion). If that wasn't bad enough, the Swedish kit maker saw worrying declines in revenue across its business areas. SEK8.4 billion of the aforementioned charges related to additional costs incurred by the IT and Cloud division…

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