Ericsson posts strong sales due to high demand of 5G gear
Ericsson AB (NASDAQ: ERIC) said on Thursday its sales rose in the second quarter, but warned of high costs due to geopolitical tensions and inflation
By Shubhangi Mathur
Published - Jul 14, 2022, 09:20 PM ET
Last Updated - Mar 12, 2024, 08:46 AM EDT
Swedish telecom-equipment giant Ericsson AB (NASDAQ: ERIC) said on Thursday its sales rose in the second quarter, but warned of high costs due to geopolitical tensions and inflation.
Ericsson said its sales increased 14% to 62.5 billion Swedish kronor, or about $5.9 billion, in the quarter ended June 30 compared with the same period last year.
The company posted an increase of 19% in the profit to 4.7 billion kronor in the quarter.
Ericsson said demand of its 5G gear was quite strong in the quarter, particularly in North America, where its sales rose 27%.
