Ericsson Shares Slide 10% After Warning on Earnings -- Market Talk
July 18 2017 - 4:16AM
Dow Jones News
0746 GMT - Ericsson shares slide by more than 10% in early trade
after the company warned that earnings could weaken further as the
market continues to struggle. It pledged to step up cost-cutting
plans after swinging to a hefty net loss in the second quarter as
mobile broadband and network sales eroded further during the
period. Shares are last down 10.09% in Stockholm. Ericsson's CEO
issues more downbeat comments after the release, warning that sales
are down sharply in Middle East and Africa, and also of slowing
investments in Europe. (jessica.fleetham@wsj.com)
(END) Dow Jones Newswires
July 18, 2017 04:01 ET (08:01 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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