Ericsson gives glimpse of pain from 5G squeeze edwardcropley
Swedish telecoms equipment maker Ericsson on Jan. 24 reported a smaller-than-expected rise in operating profit for the final three months of 2019, due to a slowdown in its previously surging U.S. business.
Ericsson, which had already flagged the impact of the proposed U.S. merger of Sprint and T-Mobile US, said adjusted operating profit for the final quarter of 2019 rose to 5.7 billion Swedish crowns from 2.6 billion crowns a year earlier, but was down from 7.4 billion crowns the previous quarter. Revenue for the full year to Dec. 31, 2019 rose to 227 billion crowns, compared with 210 billion crowns the previous year.
Shares in Ericsson fell as much as 9% to a three-month low of 77 crowns. By 0817 GMT on Jan. 24, the stock was down 5.4% at 80 crowns.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Huawei victorious as UK government defies US calls to freeze out Huawei's 5G tech - Business InsiderIt looks like Huawei is about to score a big triumph over Trump, with the UK ready to let it build some of its 5G tech
Read more »
Risky to shut out any 5G provider completely: MerkelDiversification is crucial to ensuring a country's security in the rollout ...
Read more »
Derek Jeter Shares Rare Video Of His Daughters After Hall of Fame NewsDerek Jeter gave a rare glimpse into his private life with his daughters and wife Hannah Jeter in a video celebrating his baseball Hall of Fame achievement.
Read more »
Only have 10 minutes to work out? Try this exercise routineSqueeze the most effective workout possible into whatever time frame your schedule allows with these routines. - NBCNewsBETTER
Read more »