Swedish telecommunications equipment manufacturer Ericsson said Friday it had suffered a $1.0 billion quarterly loss after writing down the value of its purchase of US cloud-based communications operator Vonage.
Telecom equipment maker Ericsson has recorded another billion-dollar impairment charge for its acquisition of cloud communications firm Vonage in 2021, sending its shares down 2% in early trade.
Mobile telecoms equipment maker Ericsson said on Wednesday it will record a noncash impairment charge of 11.4 billion Swedish crowns ($1.09 billion) in the second quarter of 2024, related to its acquisition of Vonage.