Ericsson reported Q2 revenues of SEK49.9bn, corresponding to a decrease of 7.7% yoy on a reported basis, while on a comparable basis (comparable units and currency) the decline was 13%. Middle East & Africa (-17%), Europe & Latin America (-11%) and North America (-7%) witnessed sharp drops, while the two Asian regions showed a low single-digit decrease to flattish evolution. By business unit, Networks fell by 8.5% yoy (SEK36.8bn), IT & Cloud by 5.3% (SEK10.9bn) and Media by 6.4% (
18 Jul 2017
Yet another weak quarter, 2017 guidance downgraded, new cost-cutting plan announced
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Yet another weak quarter, 2017 guidance downgraded, new cost-cutting plan announced
Telefonaktiebolaget LM Ericsson Class B (ERIBR:HEL) | 0 0 0.2% | Mkt Cap: 179,329m
- Published:
18 Jul 2017 -
Author:
Charles Bordes -
Pages:
3
Ericsson reported Q2 revenues of SEK49.9bn, corresponding to a decrease of 7.7% yoy on a reported basis, while on a comparable basis (comparable units and currency) the decline was 13%. Middle East & Africa (-17%), Europe & Latin America (-11%) and North America (-7%) witnessed sharp drops, while the two Asian regions showed a low single-digit decrease to flattish evolution. By business unit, Networks fell by 8.5% yoy (SEK36.8bn), IT & Cloud by 5.3% (SEK10.9bn) and Media by 6.4% (