Ericsson Slips To Loss In Q3 - Quick Facts

(RTTNews) - Ericsson (ERIC) reported that its third-quarter net loss attributable to owners of the parent company was 30.67 billion Swedish kronor or 9.21 kronor per share compared to net income of 5.21 billion kronor or 1.56 kronor per share last year, impacted by 31.9 billion kronor impairment of goodwill related to the acquisition of Vonage.

Net income, excluding impairment of goodwill, was 1.4 billion kronor compared to 5.4 billion kronor in the previous year.

Group sales for the third quarter decreased by 5% to 64.47 billion kronor from the prior year. Sales adjusted for comparable units and currency declined by 10%.

Looking ahead for the fourth quarter, the company expects similar market trends as in third quarter, while the cost-out impact will increase. It expects a group EBITA margin at around 10% for the fourth quarter.

The company noted that its long-term EBITA margin target of 15%-18% remains, and it aims to reach it as soon as possible.

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