Sweden's core earnings and sales for the third quarter announced by Ericsson on Tuesday both exceeded expectations, aided by a rebound in demand for 5G devices in North America. The company said the telecom equipment market was showing signs of improvement. The company's stock price surged 9% in early trading, reaching its highest level since April 2022. Ericsson's net sales fell 4% to SEK 618 billion in the third quarter, but surpassed expectations of $616 billion. Basic sales declined by 1%. Mads Lindgaard Rosendahl, a credit research analyst at Danske Bank, said, “Net sales were 'only' down 1% year over year, which is a significant improvement compared to the 7% drop in the second quarter.” Sales in North America increased by more than 50% to SEK 20.4 billion. One reason for the growth in the North American market is that the company's sales to AT&T continued to rise following a $14 billion five-year agreement with AT&T last year.

Sweden's core earnings and sales for the third quarter announced by Ericsson on Tuesday both exceeded expectations, aided by a rebound in demand for 5G devices in North America. The company said the telecom equipment market was showing signs of improvement. The company's stock price surged 9% in early trading, reaching its highest level since April 2022. Ericsson's net sales fell 4% to SEK 618 billion in the third quarter, but surpassed expectations of $616 billion. Basic sales declined by 1%. Mads Lindgaard Rosendahl, a credit research analyst at Danske Bank, said, “Net sales were 'only' down 1% year over year, which is a significant improvement compared to the 7% drop in the second quarter.” Sales in North America increased by more than 50% to SEK 20.4 billion. One reason for the growth in the North American market is that the company's sales to AT&T continued to rise following a $14 billion five-year agreement with AT&T last year.