Ericsson reports EPS growth of 71% to SEK 0.77 for the first three months of 2024, and an EBITA margin excluding restructuring charges up 1.9 points to 9.6%, on revenues down 15% to 53.3 billion.

In organic terms, the telecom equipment supplier saw its sales contract by 14%, driven by a 19% drop in network sales, with the Swedish group explaining that its customers 'continue to be cautious in their investments'.

If current trends continue', Ericsson expects sales to 'stabilize in the second half of the year, benefiting from recent contract wins and the normalization of customer inventory levels in North America'.

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