Tags: EU | Sweden | Earns | Ericsson

Ericsson Falls to $180 Million Q4 Loss in Weak Market

Thursday, 26 January 2017 08:08 AM

HELSINKI (AP) — Swedish mobile networks company Ericsson has reported a fourth-quarter net loss of 1.6 billion kronor ($181 million), mainly due to a downturn in broadband investments and licensing revenues.

The loss compared with a net profit of 7 billion kronor in the same period in 2015. Net sales fell to 65 billion kronor from 73.6 billion kronor a year earlier.

CEO Borje Ekholm acknowledged Thursday that "negative trends" plagued the industry and the company said it would continue to work on efficiency and effectiveness.

The Stockholm-based company said it was "tracking toward target" on a savings goal of 9 billion kronor this year.

Ericsson's share price was up more than 2 percent at 53.05 kronor in early afternoon trading in Stockholm.

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Swedish mobile networks company Ericsson has reported a fourth-quarter net loss of 1.6 billion kronor ($181 million), mainly due to a downturn in broadband investments and licensing revenues.The loss compared with a net profit of 7 billion kronor in the same period in 2015....
EU,Sweden,Earns,Ericsson
122
2017-08-26
Thursday, 26 January 2017 08:08 AM
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