- Company will implement further cost saving measures, CEO says
- Bernstein: ‘Bloated costs, dysfunctions, empty CEO seat’
Ericsson AB reported its first loss in almost four years, wrapping up a disastrous third quarter that
The net loss totaled 233 million kronor ($26 million), the company said in a statement Friday. The average analyst estimate was for a loss of 112 million kronor. Ericsson surprised investors last week, reporting a 14 percent drop in third-quarter sales, and warning that its full results would significantly trail its forecasts.
“Ericsson suffers from a bloated cost base, major dysfunctions and an empty CEO seat,” Pierre Ferragu, an analyst at Bernstein, said in a note to clients. However, the company’s...