Ericsson earns 1,156 million until September

MADRID, 20 Oct.

Ericsson earns 1,156 million until September


The Swedish manufacturer of telecommunications networks and equipment Ericsson obtained an attributed net profit of 12,658 million Swedish crowns (1,156 million euros) in the first nine months of 2022, which represents an increase of 0.3% compared to the result recorded by the company in the same period of the previous year.

The net sales of the Scandinavian multinational between January and September reached 185,566 million Swedish crowns (16,947 million euros), a figure 15.3% higher than Ericsson's turnover in the first three quarters of 2021.

Specifically, the Swedish company's network business increased its revenue by 15.5%, to 134,842 million crowns (12,315 million euros), while the area of ​​cloud and digital services increased its sales by 5%. up to 40,314 million crowns (3,681 million euros) and revenue from the corporate business increased by 98%, to 8,798 million crowns (803 million euros).

Between July and September, Ericsson achieved an attributable net profit of 5,214 million Swedish kronor (476 million euros), 9.3% below the result of the third quarter of 2021, despite the fact that its quarterly income grew by 20, 9%, up to 68,040 million crowns (6,214 million euros).

"In the current inflationary environment, we are making price adjustments and taking advantage of product substitution to manage margins," said Borje Ekholm, President and CEO of Ericsson.

The executive also added that the company is also streamlining operations across the business and will maintain a proactive focus on reviewing options to reduce costs.

On the other hand, the CEO of Ericsson pointed out that the company continues to interact with the Department of Justice and the United States Securities and Exchange Commission in relation to the report on the investigation of its activities in Iraq. "We are fully committed to cooperating with government authorities," he stressed.