Ericsson reports first quarter results 2017
FIRST QUARTER HIGHLIGHTS · Reported sales decreased by -11% YoY. Sales, adjusted for currency, decreased -16% YoY partly due to lower IPR licensing revenues which amounted to SEK 2.0 (3.8) b. · Provisions and adjustments related to certain customer contracts of SEK -8.4 b., asset write-downs of SEK -3.3 b. and restructuring charges of SEK -1.7 b. were made in the quarter, in line with the announcement on March 28, 2017. · Gross margin was 13.9%. Adjusted[1)] gross margin declined to 30.5% (33.9%) mainly due to lower IPR licensing revenues. · Operating income was SEK -12.3 b.