From CNBC: 2024-07-12 04:45:53

Ericsson is planning job cuts as part of cost-cutting measures. Shares jumped 8% to a two-year high after revenue decline in Q2 was less than expected. Net sales fell 7% to 59.8 billion kronor, beating analysts’ forecasts. Despite a net loss of 11 billion kronor, shares were up 6% in London trading. CEO Ekholm highlighted growth in North America and margin expansion. The company, focusing on 5G and cloud software, faces challenges in the 5G space despite major wins like the AT&T contract. India is a key growth market, with expectations of challenging market conditions in the second half.



Read more at CNBC:: Ericsson jumps 6% as sales fall less than expected