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Ericsson posts slightly wider loss than expected in Q1
April 25, 2017 / 5:50 AM / 8 months ago

Ericsson posts slightly wider loss than expected in Q1

STOCKHOLM, April 25 (Reuters) - Mobile telecom equipment maker Ericsson reported a slightly bigger than expected first-quarter operating loss on Tuesday and said industry trends and business mix in mobile broadband from 2016 were expected to prevail in 2017.

Sweden’s Ericsson posted an operating loss of 12.3 billion Swedish crowns ($1.4 billion) as previously announced provisions, writedowns and restructuring costs pushed it deep into the red.

That compared with a 3.5 billion profit in the year-ago quarter and was just below a mean forecast for a 12.0 billion crown loss seen in a Reuters poll of analysts.

Sales at Ericsson, one of the top global mobile networks equipment makers, were 46.4 billion crowns, below a consensus forecast of 47.3 billion, while the gross margin came in at 13.9 percent compared to the 17.9 percent seen by analysts.

$1 = 8.8666 Swedish crowns Reporting by Helena Soderpalm and Olof Swahnberg; editing by Johannes Hellstrom

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