Ericsson Guides for Choppy 2023 as Earnings Top Estimates
- First-quarter sales, profit exceed analyst estimates
- Networks maker warns operators stay cautious with investments
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Ericsson AB reported better-than-expected first-quarter earnings but warned that a pull back in 5G spending in some of the company’s more mature markets was set to continue.
The Swedish maker of mobile networks on Tuesday reported an adjusted earnings before interest and taxes of 4.0 billion kronor ($387 million) in the quarter, more than the analysts’ estimate of 3.28 billion kronor, according to the average in a Bloomberg survey. Revenue rose to 62.6 billion kronor, more than the expected 60.78 billion kronor.