Ericsson Q4 Loss Narrows

(RTTNews) - Ericsson (ERIC) reported that its net loss for the fourth-quarter narrowed to 6.5 billion Swedish kronor from 18.5 billion kronor last year. Loss per share was 1.99 kronor compared to loss 5.63 kronor in the prior year.

Non-IFRS loss per share was 0.77 kronor compared to a loss 1.09 kronor in the previous year.

Net sales for the quarter grew to 63.8 billion kronor from 57.9 billion kronor last year. Sales as reported increased by 10% year-over-year and sales adjusted for comparable units and currency increased by 4%. Networks sales adjusted for comparable units and currency grew by 6% year-over-year. Digital Services sales adjusted for comparable units and currency grew by 5% year-over-year.

The Board of Directors will propose a dividend for 2018 of 1.00 kronor per share to the AGM.

Ericsson said, "We will continue to invest in 5G, automation and AI to create both customer and shareholder value. Even though costs related to strategic contracts and 5G field trials will impact margins short term, they will help reaching our targets for 2020 and 2022 as well as strengthen our business in the long term."