Telefonaktiebolaget LM Ericsson Class B (ERIC) has released an update.
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Ericsson reported a 14% year-over-year organic sales decline in Q1 2024, with a significant 19% drop in Networks, while managed to boost its gross margin to 42.7% from 39.8%, indicating efficiency improvements and stronger IPR licensing revenues. The company also saw an increase in net income to SEK 2.6 billion and achieved a positive free cash flow before M&A of SEK 3.7 billion, recovering from a previous deficit.
For further insights into ERIC stock, check out TipRanks’ Stock Analysis page.
