Swedish telecom equipment maker Ericsson reported on Tuesday a first-quarter adjusted operating profit that beat expectations and said it expects sales to stabilize during the second half of the year if current trends persist.
Operating profit excluding restructuring charges grew unexpectedly, to 4.3 billion crowns ($394.2 million) from a year-earlier 4.0 billion. Analysts polled by LSEG had on average forecast a drop to 1.7 billion crowns. Ericsson said the profit includes a one-off gain of 1.9 billion crowns related to the resolution of a commercial dispute.
Reuters
