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Ericsson's operating profit down in Q2 results
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By Martin Coulter
LONDON (Reuters) — Sweden's Ericsson (BS:ERICAs) on Tuesday reported a fall in operating profits for the second quarter of 2023, compared with the previous year.
The Swedish telecom equipment maker's operating profits, excluding restructuring charges, fell to 2.8 billion Swedish crowns ($271 million), compared with 7.4 billion the previous year.
Net sales rose to 64.4 billion Swedish crowns, above analysts' mean forecast of 63.9 billion Swedish crowns, according to Refinitiv data.
Ericsson's reported gross margin for Q2 fell to 37.4% from 38.6% the previous quarter.
($1 = 10.3374 Swedish crowns)
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