News Formal

Ericsson shares slide as earnings disappoint

  • 📰 Reuters
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Sweden's Ericsson missed fourth-quarter core earnings expectations as sales of 5G equipment slowed in high-margin markets such as the U.S.

cut costsChief Financial Officer Carl Mellander told Reuters that would involve reducing consultants, real estate and also employee headcount.

He declined to say if the job cuts would be similar to 2017 when Ericsson laid off thousands of employees and focused on research to return the company to profitability. JPMorgan analysts said given the fall in margins and higher investments, they would expect 2023 earnings to decline by a double digit percentage.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ericsson earnings miss as slowing U.S. market hits marginsSweden's Ericsson on Friday missed fourth-quarter core earnings expectations as sales of 5G equipment slowed in high-margin markets such as the United States.
Source: Reuters - 🏆 2. / 97 Read more »