News Formal

Ericsson's earnings miss on software contract delay, Russia provision

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 66%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

STOCKHOLM : Sweden's Ericsson, under fire over its handling of a bribery investigation in Iraq, on Thursday reported a fall in first-quarter core earnings, hurt by a delay in recording a large software contract and a provision related to suspension of business in Russia.The company's quarterly adjusted op

STOCKHOLM : Sweden's Ericsson, under fire over its handling of a bribery investigation in Iraq, on Thursday reported a fall in first-quarter core earnings, hurt by a delay in recording a large software contract and a provision related to suspension of business in Russia.

The company's quarterly adjusted operating earnings fell to 4.7 billion Swedish crowns from 5.3 billion a year ago. The mean forecast of 6.63 billion does not reflect 0.9 billion crowns of provision announced earlier this week related to Russia, according to Refinitiv data.

 

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:

 /  🏆 6. in CA

Canada Canada Latest News, Canada Canada Headlines

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

Nokia to stop doing business in RussiaSTOCKHOLM: Telecoms equipment maker Nokia is pulling out of the Russian market, its CEO told Reuters, going a step further than rival Ericsson , which said on Monday (Apr 11) it was indefinitely suspending its business in the country. Hundreds of foreign companies are cutting ties with Russia following its
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »