Summary: Ericsson predicts that the uncertainty affecting its mobile networks business will extend into 2024, following a decline in third-quarter revenue due to decreased demand for 5G equipment in North America. The company also anticipates that its current quarter results will be comparable to those of the previous quarter.
Ericsson announced that it foresees ongoing uncertainty in its mobile networks business until 2024, following a drop in revenue during the third quarter. The decline in revenue can be attributed to a decrease in demand for 5G equipment in North America. In addition, Ericsson had already pre-announced its results, revealing a $2.9 billion impairment charge over its Vonage acquisition. The company stated that it expects its financial performance in the current quarter to be similar to that of the previous quarter. It remains to be seen how Ericsson will navigate the challenging network landscape and address the impact of decreased demand for 5G equipment.
Tags: Ericsson, networks business, revenue decline, 5G equipment, North America, uncertainty