Ericsson Stock Surges to Multi-Year Highs Amid Strong Q3 Earnings
Ericsson shares soared 20.6% on Tuesday, defying a broader market downturn that saw the S&P 500 drop 1.5%. The Swedish telecom giant's Q3 earnings report stunned analysts, with diluted earnings nearly tripling year-over-year to 3.33 kronor per share.
Despite a 9% revenue decline, the company delivered 'guldkantad' (gilded) results that exceeded expectations. Three of five geographic divisions posted organic sales growth, with only the Americas showing weakness. CEO Börje Ekholm highlighted sustained margin strength from high-margin software and services.