• About
  • Advertise
  • Contact
Tuesday, June 24, 2025
  • Login
No Result
View All Result
NEWSLETTER
The NY Journals
  • Home
  • Business
  • Technology
  • Entertainment
  • Sports
  • Lifestyle
  • Health
  • Politics
  • Trending
  • Home
  • Business
  • Technology
  • Entertainment
  • Sports
  • Lifestyle
  • Health
  • Politics
  • Trending
No Result
View All Result
The NY Journals
No Result
View All Result
Home Technology

Ericsson’s Q1 profit grows unexpectedly, eyes stabilisation of sales in H2

by Sarkiya Ranen
in Technology
Ericsson’s Q1 profit grows unexpectedly, eyes stabilisation of sales in H2
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


TELECOM equipment maker Ericsson reported on Tuesday (Apr 16) a first-quarter adjusted profit that beat expectations and said sales might stabilise in the second half of the year despite weak demand for 5G gear.

Operating profit excluding restructuring charges grew unexpectedly, to 4.3 billion crowns (S$246.4 million) from a year-earlier four billion despite a 15 per cent sales drop. Analysts polled by LSEG on average forecast a drop to 1.7 billion crowns.

The profit included a one-off gain of 1.9 billion crowns related to the resolution of a commercial dispute, Ericsson said.

The Swedish group said it expects the Radio Access Network (RAN) market to keep falling at least to the end of the year as customers hold back on investments, but added: “If current trends persist, we expect our sales to stabilise during the second half of the year, benefiting from recent contract wins and the normalisation of customer inventory levels in North America.”

“In the second half, our margins should benefit from improved business mix,” it said.

The company already in January predicted markets outside China would keep weakening this year and announced new layoffs in March, having slashed costs and shed thousands of jobs in 2023 as sales slowed after years of high demand for 5G gear.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Ericsson on Tuesday forecast a gross margin excluding restructuring charges at the Networks division of 42 to 44 per cent for the second quarter of 2024. In the first quarter, it stood at 44.3 per cent. REUTERS



Source link

Tags: EricssonsEyesGrowsProfitSalesstabilisationUnexpectedly
Sarkiya Ranen

Sarkiya Ranen

I am an editor for Ny Journals, focusing on business and entrepreneurship. I love uncovering emerging trends and crafting stories that inspire and inform readers about innovative ventures and industry insights.

Next Post
Pak Woman Seema Haider Summoned As 1st Husband Goes To Noida Court

Pak Woman Seema Haider Summoned As 1st Husband Goes To Noida Court

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Andhra Government Cites Lab Report In Row Over Animal Fat In Tirupati Laddoos

Andhra Government Cites Lab Report In Row Over Animal Fat In Tirupati Laddoos

9 months ago
Cole Palmer loses Premier League record before being bailed out by Chelsea team-mate

Cole Palmer loses Premier League record before being bailed out by Chelsea team-mate

4 months ago

Popular News

    Connect with us

    The NY Journals pride themselves on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

    Transcending the bounds of New York City to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

    NEWS

    • Business
    • Technology
    • Entertainment
    • Sports
    • Lifestyle
    • Health
    • Politics
    • Real Estate
    Instagram Youtube

    © 2025 The New York Journals. All Rights Reserved.

    • About Us
    • Advertise
    • Contact Us
    No Result
    View All Result
    • Home
    • Business
    • Technology
    • Entertainment
    • Sports
    • Lifestyle
    • Health
    • Politics
    • Trending

    Copyright © 2023 The Nyjournals

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In