Ericsson Beats Estimates as Mobile Operators Buy More 5G Gear

Ericsson AB’s earnings beat analysts’ expectations in the first quarter as mobile operators ramped up spending on the Swedish telecom operator’s 5G equipment.

Adjusted earnings before interest and taxes were 6.21 billion Swedish kronor ($636 million) in the first quarter, the Stockholm-based company said in a statement on Tuesday. That compared to an average of analyst estimated compiled by Bloomberg of 5 billion.