Ericsson reports Q3 EPS SEK 3.33 vs. SEK 1.14 last year

Reports Q3 revenue SEK 56.24B vs. SEK 61.79B last year. Borje Ekholm, president and CEO, said: “In Q3, we established margins at a new long-term level following strong operational execution over the past few years. Cloud Software and Services sales grew 9%*, driven by strong growth in core networks. Our solid progress on technology initiatives continues. Gartner and Omdia reconfirmed our 5G solutions are industry leading. Our Open RAN-ready portfolio includes an AI native, future proof software architecture which is hardware agnostic. The portfolio integrates with third-party radios and supports Ericsson (ERIC) silicon and third-party CPU/GPUs. Looking ahead, we expect Enterprise organic sales to stabilize in Q4 and the RAN market to remain broadly stable. Solid recurring cash flow and the iconectiv sale contributed to a strong Q3 cash position, offering scope for increased shareholder distributions. The Board’s recommendation on the scale and mechanism for the distribution will be included in the Q4 report for decision at the AGM.”