Close
Close

Published

Some green shoots in Ericsson’s Q3, but losses are worse than expected

It was a sign of the low confidence in Ericsson that its shares leapt by 8% when it announced its fourth quarterly loss in a row and a 6% year-on-year drop in third quarter revenue. But hidden in another depressing set of figures were some signs of new shoots of growth in the core Networks business – which will be critical, given that new CEO Börje Ekholm is pulling back on other areas such as enterprise sectors. Overall revenue in the quarter was SEK47.8bn ($5.9bn) while the loss, its fourth in a row, was SEK4.8bn ($590m), far worse than the year-ago loss of $24.5m. At constant currency, the revenue decline would have been 3%, a significant improvement on a 13%…

Close