Ericsson Turns 3Q Profit -- Sort Of
By Carlo Longino, Thu Oct 30 19:15:00 GMT 2003
Ericsson released their third-quarter earnings today, with their CEO proudly announcing the company is back in the black. But some investors and analysts are still seeing red.
Ericsson said said it turned a 1 billion crown (about $130 million) profit in the third quarter, but that's an adjusted figure that doesn't take into account hefty charges for the company's now-completed restructuring. The company's net loss was almost 4 billion crowns.
Much of this is accounting semantics, and there's no doubt that Ericsson should post a net profit sometime soon, likely as soon as the first quarter of next year. But investors weren't too excited about the company's flat outlook for the 2004 mobile market.