Ericsson’s Q4 Profit Growth Beats 5G Enhancement Forecast

Ericsson's Q4 Profit Growth Beats 5G Enhancement Forecast

Ericsson has recently announced its core earnings from the fourth quarter of 2020, which beats the market estimates. It is absolutely due to the vast sales of 5G equipment while the technology company continued to benefit from the ban of Huawei in various countries.

The quarterly adjusted operating earnings reached 11 billion crowns – which is up from 6.5 billion crowns YOY. Earlier, Refinitiv projected the market value to be around 8.58 billion crowns. Börje Ekholm, CEO at Ericsson, noted that the continued high activity levels in North America, North East Asia, and Europe had increased the market valuation.

In fact, the overall sales in its network units also rose to 20%, and the gross margin rising to 43.5%.

Source: Reuters

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