Ericsson (ERIC) reported that its fourth quarter net income to owners of the parent company declined to 3.39 billion Swedish kronor from 6.07 billion Swedish kronor, prior year. Earnings per share was 1.02 kronor compared to 1.82 kronor. EBIT excluding restructuring charges amounted to 7.4 billion Swedish kronor compared to 8.1 billion Swedish kronor, last year.
Fourth quarter net sales were 71.88 billion Swedish kronor, down 16% from prior year. Sales declined organically by 17%, driven by a 23% decline in Networks.
The company expects the current market uncertainties to prevail into 2024 with a further decline of the RAN market outside China.
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