Reported about 7 hours ago
Ericsson's shares surged to a two-year high after the company reported third-quarter earnings that exceeded analysts’ predictions, driven by a significant $14 billion contract with AT&T. The telecom equipment maker's adjusted earnings before interest and taxes reached 7.3 billion kronor, surpassing the forecasted 5.6 billion kronor, and the adjusted operating margin hit 11.9%. CEO Börje Ekholm noted signs of market stabilization in North America, while also highlighting aggressive cost-cutting measures and a focus on operational excellence amidst a challenging telecom equipment market.
Source: YAHOO