Ericsson Q2 Loss Widens, Adj. EBITA Up

(RTTNews) - Swedish telecom company LM Ericsson (ERIC) reported Friday that its second-quarter net loss was 11 billion Swedish kronor, sharply wider than last year's loss of 597 million kronor.

Loss per share was 3.34 kronor, compared to 0.21 kronor loss per share a year ago.

The latest results included 11.4 billion kronor impairment loss.

Adjusted EBITA was 4.05 billion kronor, up 10 percent from last year's 3.68 billion kronor. Adjusted EBITA margin was 6.8 percent, compared to 5.7 percent a year ago.

Sales declined 7 percent to 59.85 billion kronor from last year's 64.44 billion kronor. Organic sales also dropped 7 percent.

Looking ahead, the company said it is on track to deliver the 12 billion kronor to 13 billion kronor IPR revenue target for 2024.

Borje Ekholm, President and CEO, said, "We expect market conditions to remain challenging this year, as the pace of India investments slow, however our sales will benefit during the second half from contract deliveries in North America."

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