Swedish telecoms equipment maker Ericsson AB has increased its net profit in the first quarter by 61% and revenue by 3%.
According to the company’s press release, net profit in January-March totalled SEK4.22bn ($430m), up from SEK2.61bn in the same period of the previous year. The result was much better than the consensus forecast of SEK2.41bn by experts polled by FactSet.
Ericsson’s quarterly revenue was SEK 55.03bn compared to SEK 53.33bn a year earlier (consensus SEK 55.5bn). In organic terms, sales were unchanged.
The company’s sales in the Americas grew by 26 per cent. In Europe, Middle East and Africa, the figure declined by 5 per cent, in South East Asia, Oceania and India by 16 per cent, and in North East Asia by 6 per cent.
Global sales in the telecom network equipment segment grew 6% to 35.6 billion kronor last quarter, with organic sales growth of 3% in this area.
Ericsson’s sales in the cloud software and services segment decreased by 1% to 13bn kronor.
The company notes increased uncertainty about the outlook for the second quarter, both in terms of the possibility of further duty changes and the overall macroeconomic environment.