Ericsson: earnings beat forecasts on North America
(CercleFinance.com) - Telecom gear maker Ericsson posted better-than-expected first-quarter earnings on Wednesday, with growth mainly driven by greater investments in North America.
The mobile equipment maker reported operating income of 4.9 billion Swedish kronor (approximately 500 million euros), compared to a loss of 300 million Swedish kronor in the same period a year ago.
Net income was also positive, coming in at 2.4 billion Swedish kronor, against a loss of 700 million Swedish kronor in the first three months of 2018.
Sales in the first quarter were up 7% at 48.9 billion Swedish kronor, a touch ahead of the consensus of 48.2 billion Swedish kronor.
Ericsson said the 5G market is "gaining momentum" and that the group is "well positioned" to capture opportunities in this field, but noted that the impact 5G deals was limited in the first quarter.
To date, Ericsson has publicly announced commercial 5G deals with 18 named telecom operator clients, which, at the moment, "is more than any other vendor" according to the company's statement.
The Ericsson share was up 4.5% this morning in Stockholm.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The mobile equipment maker reported operating income of 4.9 billion Swedish kronor (approximately 500 million euros), compared to a loss of 300 million Swedish kronor in the same period a year ago.
Net income was also positive, coming in at 2.4 billion Swedish kronor, against a loss of 700 million Swedish kronor in the first three months of 2018.
Sales in the first quarter were up 7% at 48.9 billion Swedish kronor, a touch ahead of the consensus of 48.2 billion Swedish kronor.
Ericsson said the 5G market is "gaining momentum" and that the group is "well positioned" to capture opportunities in this field, but noted that the impact 5G deals was limited in the first quarter.
To date, Ericsson has publicly announced commercial 5G deals with 18 named telecom operator clients, which, at the moment, "is more than any other vendor" according to the company's statement.
The Ericsson share was up 4.5% this morning in Stockholm.
Copyright (c) 2019 CercleFinance.com. All rights reserved.