Ericsson announces $2.9 billion impairment charge in Q3
© Reuters. FILE PHOTO: A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo) said on Wednesday that it will book a non-cash impairment charge of 32 billion crowns in the third quarter related to its acquisition of Vonage in 2022 in a $6.2 billion deal.
"The impairment charge represents 50% of the total amount of goodwill and other intangible assets attributed to Vonage," the Swedish group said in a statement. Ericsson said it expected an operating profit margin of 7.3% before amortisation and restructuring charges in the third quarter, in line with previous guidance.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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