Ericsson warns of third-quarter profit below forecast as sales slump

Ericsson warns of third-quarter profit below forecast as sales slump
 

Swedish telecom equipment maker Ericsson warned on Wednesday that its third-quarter profit would be "significantly lower" than expected after a downturn in its mobile broadband business had accelerated.
The company said in a statement that its operating income fell to 0.3 billion crowns (28.39 million pounds) from 5.1 billion crowns a year ago, including restructuring charges of 1.3 billion crowns, while sales fell 14 percent to 51.1 billion crowns.
The mean forecast of analysts' expectations stood at an operating income of 4.3 billion crowns and sales of 53.6 billion crowns,... read more

 
12 October 2016 in Business, Views: 37
Source: Reuters
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