Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Ericsson’s quarterly core profit misses expectations

Published : 2 years ago, on

Ericsson’s quarterly core profit misses expectations

STOCKHOLM (Reuters) -Sweden’s Ericsson on Tuesday reported first-quarter core earnings that missed expectations as telecom customers in high-margin countries such as the United States held back on spending on 5G equipment.

The company’s quarterly adjusted operating earnings fell to 3 billion Swedish crowns ($290.03 million) from 4.7 billion crowns a year earlier, missing analysts’ mean forecast of 3.28 billion, according to Refinitiv data.

Ericsson, which announced plans to cut 8,500 employees in February, has seen overall margins erode as growth now mainly comes from fiercely price competitive markets such as India rather than high-margin markets like the U.S.

Its reported gross margin for the quarter fell to 38.6% from 42.3%.

However, net sales rose 14% to 62.6 billion crowns, beating estimates of 60.43 billion.

($1 = 10.3438 Swedish crowns)

(Reporting by Supantha Mukherjee in Stockholm, editing by Terje Solsvik)

 

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post