Ericsson reported strong first-quarter earnings, surpassing expectations with an adjusted EBIT of SEK 4.31 billion, significantly higher than the estimated SEK 2.01 billion. Despite a decline in net sales to SEK 53.33 billion, which fell short of the anticipated SEK 54.83 billion, the company's profits were bolstered by higher margins and a one-off payment from the resolution of a commercial dispute. Notably, sales in key mobile networks dropped by 21%, with further declines expected in 2024. However, Ericsson remains optimistic, forecasting sales stabilization in the second half of the year, driven by renewed customer spending. Ericsson shares rose as the company also reported a gross margin beat.
Ericsson Stock Edges Higher on Signs Telco Demand Will Stabilize Later This Year https://t.co/58GkKVkfRX
Ericsson said it expects sales to stabilize in the second half of 2024 amid signs some customers are looking to spend again, as the telecoms equipment maker beat first-quarter profit forecasts helped by a one-off gain https://t.co/dz0yKgG6eq https://t.co/fQCkAStJPJ
WATCH: Ericsson beat first-quarter profit forecasts, helped by a one-off payment from the resolution of a commercial dispute. The telecoms equipment maker said it expects sales to stabilize in the second half of the year, as customers look to spend again https://t.co/XjVFnClw2E https://t.co/IYQY555esJ
Ericsson beat first-quarter profit forecasts, helped by a one-off payment from the resolution of a commercial dispute. The telecoms equipment maker also said it expects sales to stabilize in the second half of the year, as customers look to spend again https://t.co/dz0yKgG6eq https://t.co/YT1hW80aeu
WATCH: Ericsson said it expects sales to stabilize in the second half of 2024 amid signs some customers are looking to spend again, as the telecoms equipment maker beat first-quarter profit forecasts helped by a one-off gain https://t.co/XjVFnCm3Sc https://t.co/A7wXphsqw7
Ericsson shares rise as Q1 report reveals strong earnings, gross margin beat https://t.co/Uk7wzetG4q https://t.co/q3Ev4J89J2
Ericsson posts increase in profits as higher margins offset falling sales https://t.co/ikAvf4CI8u
Ericsson Q1 sales in key mobile networks fall 21%, sees further falls in 2024 https://t.co/AZF7wASsFQ
Ericsson's Q1 adjusted operating profit beats expectations https://t.co/9RlMKysnBO https://t.co/5sUBRKkqq5
Ericsson Q1 Earnings: - Adj. EBIT SEK4.31B (est SEK2.01B) - Net Sales SEK53.33B (est SEK54.83B) - See’s Sales Stabilising In Second Half Of Year