Reported Wednesday, Ericsson To Record SEK 11.4B Non-Cash Impairment Charge In Q2 2024, Largely Attributed To Vonage Acquisition

Author: Benzinga Newsdesk | July 05, 2024 03:13am

• Non-cash impairment of SEK 11.4 billion to be recorded in the second quarter 2024, relating to the impairment of intangibles mainly attributed to the Vonage acquisition
• Reflects lower anticipated market growth in some of Vonage's current portfolio
• The Ericsson strategy to build a new source of monetization for the telecom industry remains. Vonage is positioned at the center of digitalizing enterprises and society through the development of the Global Network Platform for network APIs; 12 partnerships with leading service providers have already been announced, with Singtel and Telstra added in Q2

Posted In: ERIC