Ericsson reports third quarter results 2024

Financial highlights – strong growth in North America and continued gross margin expansion             

Börje Ekholm, President and CEO, said: "Q3 marks a period of laser-focus on execution of our strategic plan. We see increasing customer momentum around programmable networks that deliver differentiated performance, and expect further traction, supported by the JV we have announced with 12 of the world's largest telecom operators. The JV will aggregate network APIs, accelerating commercialization and generating new opportunities for network monetization.

We see signs that the overall market is stabilizing with North America, as an early adopter market, returning to growth. While the market development is ultimately in the hands of our customers, we are working to deliver operational excellence regardless of market conditions. Our Q3 results demonstrate our progress, with strong gross margin expansion and free cash flow, benefiting from our commercial discipline and operational efficiency actions.   

We expect our Networks sales to stabilize year-on-year during Q4, driven by continued good growth in North America. However, we anticipate further near-term sales pressure in Enterprise as we focus on profitable segments. We launched a new private 5G enterprise product portfolio in Q3 to support performance improvement, which remains a key priority." 

[2] Non-IFRS financial measures are reconciled at the end of this report to the most directly reconcilable line items in the financial statement.  

[3] Excluding the non-cash impairment recorded in the second quarter 2024, relating to the impairment of intangible assets mainly attributed to the Vonage acquisition. 

NOTES TO EDITORS 

You find the complete report with tables in the attached PDF or on www.ericsson.com/investors

Video webcast for analysts, investors and journalists 

President and CEO Börje Ekholm and CFO Lars Sandström will comment on the report and take questions at a live video webcast at 9:00 AM CEST (8:00 AM BST London, 3:00 AM EDT New York). 

Join the webcast or please go to www.ericsson.com/investors

To ask a question: Access dial-in information here

The webcast will be available on-demand after the event and can be viewed at www.ericsson.com/investors. 

Contact person
Daniel Morris, Head of Investor Relations 
Phone: +44 7386657217   
E-mail: [email protected]  

Additional contacts
Stella Medlicott, Senior Vice President, Marketing and Corporate Relations
Phone: +46 730 95 65 39
E-mail: [email protected]

Investors
Lena Häggblom, Director, Investor Relations
Phone: +46 72 593 27 78
E-mail:  [email protected]

Alan Ganson, Director, Investor Relations
Phone: +46 70 267 27 30
E-mail: [email protected]

Media
Ralf Bagner, Head of Media Relations
Phone: +46 76 128 47 89
E-mail: [email protected]

Media relations  
Phone: +46 10 719 69 92
E-mail: [email protected]

This is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CEST on October 15, 2024. 

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