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Ericsson Q1 revenue up 12%

Networks revenue increased 12% to $4.1 billion

By CBR Staff Writer

Ericsson has reported a 30% decline in net income to SEK 1.8 billion ($227m), compared to SEK 2.6 billion ($324m) in the year-ago quarter, on revenue up 12% at SEK 49.5 billion ($6.1 billion).

Operating income fell 49% to SEK 1.7 billion ($219.5m), and earnings per share declined 34.9% to SEK 0.54 ($0.06).

During the quarter, networks revenue increased 12% to SEK 33.5 billion ($4.1 billion), professional services revenue increased 28% to SEK 12.7 billion ($1.5 billion), and multimedia revenue declined 22.3% to SEK 3.2 billion ($401m).

Geographically, Western Europe revenue declined 31% to SEK 11.2 billion ($1.4 billion), Central & Eastern Europe and MEA revenue was down 29% at SEK 12.4 billion ($1.5 billion), Asia Pacific revenue fell 21% to SEK 16.2 billion ($2 billion), Latin America revenue was down 44% at SEK 4.3 billion ($542m), and North America revenue rose 6% to SEK 5.2 billion ($645.5m).

Carl-Henric Svanberg, president and chief executive at Ericsson, said: The effects of the global economic recession on the global mobile network market are so far limited. We have seen operators, in a few markets where local currencies have depreciated dramatically, postpone investments. Some operators are also more cautious with longer-term investments in fixed networks. Most operators, however, have healthy financial positions, there is a strong traffic growth and the networks are fairly loaded.

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