Ericsson’s Q4 Profit Growth Exceeds Forecast on 5G Enhancement

Ericssons Q4 Profit Growth Exceeds Forecast on 5G Enhancement

Ericsson has recently reported its core earnings from the fourth quarter of 2020 – which beats market estimates. It is undoubtedly due to the strong sales of 5G equipment while the tech company continued to benefit from the ban of Huawei in several countries.

The quarterly adjusted operating earnings reached 11 billion crowns – up from 6.5 billion crowns YOY. Earlier, Refinitiv projected the market value to be around 8.58 billion crowns.

Ericsson CEO Börje Ekholm noted that the continued high activity levels in North America, North East Asia, and Europe had increased the market valuation. Overall sales in its network units also rose to 20%, with gross margin rising to 43.5%.

Source: Reuters

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