Ericsson to Take $1.09 Billion Noncash Impairment Hit in Q2 Related to Vonage-March 2024-www.financetom.com

Ericsson to Take $1.09 Billion Noncash Impairment Hit in Q2 Related to Vonage

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Ericsson to Take $1.09 Billion Noncash Impairment Hit in Q2 Related to Vonage

Jul 5, 2024 1:05 AM

03:46 AM EDT, 07/05/2024 (MT Newswires) -- Ericsson (ERIC) said late Wednesday it will record a Q2 non-cash impairment charge of 11.4 billion Swedish kroner ($1.09 billion), reflecting lower anticipated market growth rates in Vonage's current portfolio.

The company said the after-tax net income impact will be 11.4 billion kroner and reported in its enterprise segment.

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