Ericsson revenue up 3% to SEK 55 bn thanks to 4% increase in network biz

Ericsson reported 3 percent increase in sales to SEK 55.1 billion during the first quarter of 2022 mainly due to 4 percent rise in network business as mobile operators have started investing in their 5G business expansion.
Ericsson CEO Borje Ekholm on new brandEricsson has generated first quarter revenue of SEK 40.7 billion (+4 percent) in network business, SEK 7.2 billion (–2 percent) from digital services, SEK 4.9 billion (–5 percent) from managed services and SEK 2.2 billion (+15 percent) from emerging business.

United States, China, United Kingdom, Japan and France are the top five markets for Ericsson during the first quarter.

Ericsson has made an investment of SEK 10.7 billion in R&D during the first quarter.

“In our core mobile infrastructure business, we foresee a longer investment cycle compared with previous mobile generations as 5G’s broad application usage will drive a continued need to increase capacity,” Ericsson CEO Borje Ekholm said.