Ericsson’s shares were -4.7% premarket after the telecom-network provider reported a Q3 net loss of 233M kronor ($26M), more than double estimates of 112M kronor. Last year the company made a profit of 3.1B kronor. Revenue last quarter dropped 14% to 51.1B kronor as Ericsson (NASDAQ:ERIC), which is without a CEO, continued to struggle with an industry slump and intense competition. “Ericsson suffers from a bloated cost base, major dysfunctions and an empty CEO seat,” said Bernstein analyst Pierre Ferragu, although he added that the company’s market position remains strong.
