The Swedish telecommunications-equipment company said sales in its key networks unit fell 4% in the third quarter, as an 80% rise in North America was offset by a sharp decline across Southeast Asia,

Ericsson has returned to growth in its North American market. The vendor, which signed a lucrative five-year contract worth $14 billion to build AT&T's Open RAN network in the US last year, said sales were up 55 percent year-on-year during the third quarter.

Shares of Swedish telecom firm Ericsson jumped 9% amid third-quarter core earnings that surpassed analyst expectations and growth North American demand.

Sweden's Ericsson said on Tuesday the telecom equipment market is showing signs of improvement after reporting third-quarter core earnings and sales above expectations, helped by a rebound in demand for 5G gear in North America.

STORY: Ericsson reported earnings and sales above expectations on Tuesday (October 15).The Swedish telecoms gear maker said the market is showing signs of improvement.It cited a rebound in demand for 5G equipment in North America as one key driver.

Ericsson reported Q3 2024 results with sales down 4% YoY but beating estimates, boosted by partnership with AT&T and improved margins.