Ericsson: losses on impairments in Q2
(CercleFinance.com) - Ericsson reported a net loss of SEK 11bn for Q2 2024, burdened by impairments of SEK -11.
4bn, compared with a loss of SEK 597m for the same period last year.
However, the Scandinavian telecom equipment supplier improved its adjusted EBITA margin by 1.1 point to 6.8%, on revenues down 7% to SEK 59.85bn, despite a 14% increase in North America.
We remained focused on our control issues, in order to optimize our business in a difficult market environment, with unsustainably low levels of investment in the sector, CEO Börje Ekholm said.
We expect market conditions to remain difficult this year, as the pace of investment in India slows, but our sales will benefit in the second half from contract deliveries in North America, he continues.
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4bn, compared with a loss of SEK 597m for the same period last year.
However, the Scandinavian telecom equipment supplier improved its adjusted EBITA margin by 1.1 point to 6.8%, on revenues down 7% to SEK 59.85bn, despite a 14% increase in North America.
We remained focused on our control issues, in order to optimize our business in a difficult market environment, with unsustainably low levels of investment in the sector, CEO Börje Ekholm said.
We expect market conditions to remain difficult this year, as the pace of investment in India slows, but our sales will benefit in the second half from contract deliveries in North America, he continues.
Copyright (c) 2024 CercleFinance.com. All rights reserved.