Ericsson ends up on the wrong side of memory-chip price spike. The stock slumps
Börje Ekholm, CEO of Ericsson, stressed the company's commitment to expanding portfolio to take advantage of the next wave of connectivity driven by
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Summary
Börje Ekholm, CEO of Ericsson, stressed the company's commitment to expanding portfolio to take advantage of the next wave of connectivity driven by artificial intelligence, but warned for cost pressures. Swedish profit Ericsson fell 44% in the first semester. The company assigns a significant share of the impact to restructuring costs: EUR 396 million was recorded in this six-month period in costs related to organisational adjustments.
Furthermore, Ericsson shares on Tuesday saw their worst reaction to earnings in nearly three years after the telecom-equipment maker revealed that rising component costs were eating away at margins — likely the huge surge in memory-chip prices.
Cross-referenced from 4 sources across 2 countries and 2 languages.
Factual coreconfirmed by several independent voices
Börje Ekholm, CEO of Ericsson, stressed the company's commitment to expanding portfolio to take advantage of the next wave of connectivity driven by artificial intelligence, but warned for cost pressures.
reliability moderate2/2 sourcesSwedish profit Ericsson fell 44% in the first semester.
reliability moderate2/2 sources
Reported detailssecondary facts, each attributed to its source
The company assigns a significant share of the impact to restructuring costs: EUR 396 million was recorded in this six-month period in costs related to organisational adjustments.
according to Diário de NotíciasEricsson shares on Tuesday saw their worst reaction to earnings in nearly three years after the telecom-equipment maker revealed that rising component costs were eating away at margins — likely the huge surge in memory-chip prices
according to MarketWatch +1
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