Ericsson warns of an uncertain near-term outlook as profit disappoints
STOCKHOLM–Ericsson AB on Friday posted lower-than-expected fourth-quarter net profit and cautioned that the near-term outlook is uncertain, with operators holding off placing new orders as they rebalance inventories and assess economic headwinds.
Ericsson reported net profit attributable to shareholders of 6.07 billion Swedish kronor compared with SEK10.08 billion a year earlier, as sales rose 21% to SEK86.0 billion.The company expects to start seeing the effect of its SEK9 billion cost-saving activities during the second quarter of 2023.
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