Ericsson posts its results for the second quarter of 2015-16

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Ericsson posts its results for the second quarter of 2015-16

July 20, 2015

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Swedish telecommunication equipment manufacturer, Ericsson, has come out with its financial results for the second quarter of 2015-16.

The sales of the company increased by 11 per cent year-on-year (YoY). Net sales increased to 60.7 billion Swedish Krona compared to 54.8 billion Swedish Krona in the second quarter of last year. However, sales adjusted for comparable units and currency fell 6%. Gross margin decreased YoY to 33.2 per cent, compared to 36.40% last year. The company has reported an operating profit of 3.6 billion Swedish Krona compared with 4 billion Swedish Krona in the year-ago quarter

The company’s sales in India grew 85 per cent year-over-year, accelerating from the 29 per cent growth in the same period last year owing to continued mobile broadband investments, driven by growth in mobile data traffic.