:max_bytes(150000):strip_icc()/GettyImages-2204243871-5ab38e2e820f45c9b1a429175e146c7d.jpg?w=1920&resize=1920,1267&ssl=1 "Ericsson Stock Surges as North American Sales Jump Amid Tariff Worries")
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key takeaways
- Ericsson’s shares rose after the company reported the first quarter benefit on Tuesday, which topped the expectations of analysts.
- The Swedish company said that the North American sales jumped due to “quick network investment” amid tariff uncertainty.
- “We are not immune, but we are flexible,” Ericsson CEO Borje Ekhom said on Tuesday when the earnings were released.
The US-trade shares of Ericsson (Eric) by the Swedish telecom firm on Tuesday reported the benefit of the first quarter on Tuesday, the top of the expectations of analysts on a strong North America sales.
The telecom equipment manufacturer recorded an income of 1.24 Swedish chronor (13 cents) (EPS), which is 61% year-to-year and above the estimates of analysts. The revenue of 55 billion chronners was 3% from a year ago and slightly lower than estimates.
Ericsson’s shares jumped over 7% in recent trading on Tuesday and increased by about 64% in the last 12 months.
Ericsson reports a 20% increase in North American sales
The company’s better-to-the—-fted advantage increased by a 20% sales in North America, which Ericsson attributed to the “quick network investment” because customers bought more equipment before a potential tariff.
CEO Borje Ekhom said, “When developed into global trade scenario and macro instability, we continue to focus on controlling and distributing our customers.” “We are not immune, but we are flexible, close to the customer with flexibility of diverse production and changing situations over time.”
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