Ericsson topped earnings forecasts on robust 5G demand even though the company has been losing business in China since Sweden banned Huawei from its 5G rollout
Revenue up 2% at 71.3 bln crowns vs est 68.33 bln crownsSTOCKHOLM, Jan 25 - Ericsson
The Swedish company has been losing business in China since Sweden banned China's Huawei from its 5G rollout. China now accounts for a low single digit proportion of group revenue, down from more than 11% before the Swedish ban, Ericsson said.Register now for FREE unlimited access to Reuters.com"We have seen North America continue to grow very strongly and we grew there by 16% in the quarter in constant currency," Chief Financial Officer Carl Mellander said.
"We think we are still relatively early in the 5G rollout if you look on the globe, so we will continue to see good demand for 5G going forward," CEO Börje Ekholm told a conference call. The company's quarterly adjusted operating earnings rose to 11.9 billion Swedish crowns from 11 billion a year ago, beating analysts' mean forecast of 10.30 billion, according to Refinitiv data.While Ericsson's total quarterly revenue rose 2% to 71.3 billion crowns, beating estimates of 68.33 billion crowns, sales in mainland China declined by 1.8 billion crowns.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Verizon vs T-Mobile vs AT&T: the US 5G speed champion widens its huge leadT-Mobile is the clear winner of Opensignal's latest nationwide 5G speed and availability tests, somehow managing to extend both those leads over Verizon and AT&T.
Leer más »
Horizon Air flights in and out of Seattle-area airport are being canceled as 5G continues to ground regional jetsAs fog shrouded Paine Field in Everett, Wash., on Monday, Alaska Air regional carrier Horizon Air was forced to cancel all commercial flights in and out of the airfield because of potential 5G interference. Now some Tuesday flights are being canceled.
Leer más »
New ad for 5G iPhone 13 series shows that the handsets can take a beating from an expertApple releases a new television advertisement for the iPhone 13 series that promotes the Corning Ceramic Shield which protects the glass used on the device.
Leer más »
Meet My New Going-Out Staple For Winter: A Black Offset Shoulder TopThis long-sleeve going-out top is one of the most unique and trendy shirts I own. I wear it everywhere, and it's on sale right now for $25.
Leer más »
IMF cuts growth forecasts for U.S., China and world as Omicron spreadsThe International Monetary Fund lowered its economic forecasts for the United States, China and the global economy on Tuesday, and said uncertainty about the pandemic, inflation, supply disruptions and U.S. monetary tightening posed further risks.
Leer más »
Mali asks Denmark to 'immediately' withdraw its troopsJunta ruling the West African nation demands Denmark 'immediately' withdraw troops, saying it was not consulted and the deployment failed to follow protocol.
Leer más »