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Lower sales – better results for Ericsson
Swedish Ericsson, recorded – as a whole – a solid quarter, with slightly lower sales but better results, compared to previous quarter. However, the company indicates that sales are under pressure.
“Sales for comparable units, adjusted for FX, grew 3%. Reported sales were slightly down YoY, primarily due to continued currency headwind,” said Hans Vestberg, President and CEO of Ericsson.
Third quarter highlights:
- Sales amounted to SEK 53.0 billion or EUR 6.04 billion, down -3% YoY.
- For comparable units and adjusted for FX, sales increased 3% YoY.
- Operating income incl. JV was SEK 4.2 billion or EUR 478.5 million (3.1 billion). with an operating margin of 8.0% (5.7%).
- Net income was SEK 3.0 billion or EUR 341.8 million, (2.2) billion.
- Cash flow from operating activities was SEK 1.5 billion or EUR 170.9 million, (7.0) billion.