STOCKHOLM (Reuters) - Mobile telecom equipment maker Ericsson reported a bigger-than-expected fourth-quarter operating loss on Wednesday and said it expected to see tangible results of a turnaround in 2018.
Sweden's Ericsson posted an operating loss of 19.8 billion crowns ($2.5 billion), compared to a 280 million loss a year earlier and a mean forecast for a 17.3 billion loss in a Reuters poll of analysts.
Previously announced impairments, mainly relating to goodwill in Ericsson's digital and media arms, of 14.2 billion crowns, weighed on profits.
Ericsson proposed a dividend of 1.00 crowns per share, unchanged from 2016 and in line with expectations.
($1 = 7.8646 Swedish crowns)
(Reporting by Helena Soderpalm and Olof Swahnberg, editing by Anna Ringstrom)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app