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Ericsson trims down its losses during January-March 2018

April 22, 2018

Ericsson has reported reduced losses during quarter ended March 2018, when compared to the same quarter an year ago. The company’s net loss during quarter-ended March 2018 stood at 300 million Swedish krona ($35.6m) as against a loss of 11.3 billion Swedish Krona in the corresponding quarter in 2017. The net loss is much lower than the analysts’ expectations of 2.4 billion Swedish Krona.

The gross margin excluding restructuring charges stood at 35.9 per cent for the quarter under consideration. This was way above the analysts' consensus forecast of 32.1 percent.

The numbers suggest that the company’s turnaround strategy may be working. Ericsson said cost reductions, a continued ramp-up of its Ericsson Radio System product platform and good progress in addressing low-performing customer contracts in its managed services business segment had driven the improvement.

 
 

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