Ericsson Beats — Huge Jump Year/Year — Shares Jump 7% — Thank You, ATT — October 15, 2024

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Ericsson on Tuesday declared adjusted third-quarter earnings, excluding impairments, of 7.327 billion Swedish crowns ($0.7 billion), compared with 3.9 billion Swedish crowns in the same period of last year and exceeding the 5.75 billion crown mean forecast of analysts cited by Reuters. 

Net sales shed 4% year-on-year to 61.8 billion Swedish crowns in the third quarter, but nevertheless surpassed analyst expectations of near 61.6 billion, according to Reuters estimates. 

North America emerged as a bright spot in the sales picture, with year-on-year growth of more than 50%.

To repeat:  North America emerged as a bright spot in the sales picture, with year-on-year growth of more than 50%.

The company’s stock had edged up nearly 9% at 8:28 a.m. London time, before lightly paring gains to 7% at 8:44 a.m.

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