Ericsson’s This fall income, core revenue rises on US demand restoration

(Corrects to learn revenue 9.8 billion crowns (not 10.2 billion), year-ago comparability 7.4 billion (not 8.2 billion), in paragraph 5)

STOCKHOLM (Reuters) -Swedish telecom gear maker Ericsson (BS:ERICAs) reported on Friday an increase in fourth-quarter income and adjusted working revenue as its mainstay North American market returned to progress.

Internet gross sales rose 1% to 72.9 billion crowns ($6.66 billion), beating estimates of 72.5 billion. In North America, gross sales have been up 54%.

“We see additional indicators that the general RAN (Radio Entry Community) market is now stabilizing, with sturdy progress in North America supporting a return to Networks gross sales progress in This fall,” CEO Borje Ekholm mentioned in an announcement.

Gross sales in Asia decreased by double digits, primarily in India, the place demand fell following a speedy progress in 2023.

Working revenue excluding restructuring prices and impairments stood at 9.8 billion crowns in contrast with a year-earlier 7.4 billion. The imply EBIT forecast in an LSEG ballot of analysts was 10.3 billion.

Ericsson proposed a dividend of two.85 crowns per share for 2024, up from 2.70 crowns for 2023.

($1 = 10.9536 Swedish crowns)