Ericsson shares rise over 7% after earnings

Friday, 29. January 2021 11:09

Shares of Swedish telecommunications company Ericsson AB jumped over 7% on Friday as the company posted quarterly earnings with net profit beating forecasts as operators in North America, North-East Asia and Europe continued to spend on 5G networks.

Net profit attributable to shareholders stood at 7.52 billion Swedish kronor ($900 million) while the company’s quarterly adjusted operating earnings rose to 11 billion Swedish crowns ($1.32 billion) from 6.5 billion crowns a year earlier.

Ericsson stock rose by 7.48% to 105.55 Swedish kronor at 11:08 am CET.

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Breaking the News / TF