Q2 sales 59.8 bln Swedish crowns, down 7% (Il Sole 24 Ore Radiocor) - Stockholm, 12 Jul - Swedish telecommunication equipment supplier Ericsson said that in the second quarter of 2024 it posted a net loss of 11.0 billion crowns, up from a loss of 0.6 billion a year earlier, after booking a non-cash impairment charge of 11.4 billion crowns primarily reflecting lower anticipated market growth rates in the portfolio of its US cloud communication subsidiary Vonage.

The loss per diluted share was 3.34 crowns against a loss of 0.21.

Sales declined 7% to 59.8 billion crowns.

Adjusted gross margin was 43.9%, up from 38.3%, supported by higher IPR licensing revenue and cost actions.

"We expect market conditions to remain challenging this year, as the pace of India investments slow, however our sales will benefit during the second half from contract deliveries in North America,' said Borje Ekholm, the president and CEO.

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(RADIOCOR) 12-07-24 07:55:00 (0076) 5 NNNN