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Ericsson posts bigger than expected Q3 loss, says market still tough
October 20, 2017 / 5:47 AM / a month ago

Ericsson posts bigger than expected Q3 loss, says market still tough

STOCKHOLM, Oct 20 (Reuters) - Mobile telecom equipment maker Ericsson reported a bigger-than-expected third-quarter operating loss on Friday and said market conditions would remain tough, warning sales in the coming quarter would increase less than the usual seasonal pattern.

Sweden’s Ericsson posted an operating loss of 4.8 billion Swedish crowns ($588.7 million), compared to nearly 300 million profit a year earlier and a mean forecast for 3.5 billion crown loss seen in a Reuters poll of analysts.

Sales at Ericsson, one of the top global mobile networks equipment makers, were 47.8 billion crowns, slightly above a consensus forecast of 47.5 billion, while the gross margin excluding restructuring charges came in at 30.0 percent versus the 29.8 percent seen by analysts. ($1 = 8.1531 Swedish crowns) (Reporting by Olof Swahnberg and Simon Johnson; editing by Niklas Pollard)

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