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

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.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

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
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »