Ericsson Shares Slide 10% After Warning on Earnings -- Market Talk

Features Dow Jones Newswires

0746 GMT - Ericsson shares slide by more than 10% in early trade after the company warned that earnings could weaken further as the market continues to struggle. It pledged to step up cost-cutting plans after swinging to a hefty net loss in the second quarter as mobile broadband and network sales eroded further during the period. Shares are last down 10.09% in Stockholm. Ericsson's CEO issues more downbeat comments after the release, warning that sales are down sharply in Middle East and Africa, and also of slowing investments in Europe. (jessica.fleetham@wsj.com)

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July 18, 2017 04:01 ET (08:01 GMT)