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Ericsson shares slide as earnings disappoint

  • 📰 Reuters
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  • Publisher: 97%

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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.

 

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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.
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