Earnings ·
Ericsson reports Q3 net income of SEK 5.8 b., diluted EPS of SEK 1.77
ERICEricsson LM Telephone Co
Ericsson reported third-quarter sales of SEK 59.5 billion, up 6% year-over-year, driven by a 7% increase in organic sales within the Networks segment. Adjusted EBITA fell to SEK 10.1 billion from SEK 15.8 billion in the prior-year period, primarily due to a SEK 7.6 billion capital gain on the divestment of iconectiv recorded last year and higher restructuring charges of SEK 0.9 billion. Reported net income decreased by 49% to SEK 5.8 billion, resulting in diluted earnings per share of SEK 1.77 compared to SEK 3.33 previously. The company also announced a simplification of its operating structure to improve efficiency and customer focus. Ericsson operates in the telecommunications equipment industry, providing network infrastructure and services globally.