Ericsson Reported Predictably Weak Start for 2017; Restructuring Is on Track; Maintain $7.50 FVE
Ericsson’s first-quarter results were expectedly underwhelming, as continued weakness in radio networks was compounded by lower IP licensing revenue and speedy declines in the legacy portion of the media and IT and cloud segments. The company is putting additional efforts into its restructuring program as related charges grew to SEK 13.4 billion in the quarter, and management is seeking strategic options for its media segment as well as parts of the IT & cloud business. Ericsson also expects...
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