FILE PHOTO: A general view of an exterior of the Ericsson headquarters in Stockholm, Sweden, January 24, 2020. TT News Agency/Fredrik Sandberg via REUTERS/File Photo
(Reuters) – Sweden’s Ericsson on Wednesday reported quarterly core earnings ahead of market estimates as demand for 5G network equipment stayed strong even as the coronavirus outbreak wreaked havoc in its main markets, China and the United States.
As the coronavirus slams the brakes on industries globally, telecom is one of the few industries that has seen a surge in demand with more people working remotely, benefiting companies such as Ericsson.
“There is near-term uncertainty around sales volumes due to Covid-19 and the macroeconomic situation, but with current visibility we have no reason to change our financial targets for 2020 and 2022,” Chief Executive Borje Ekholm said in a statement.
Spending in the U.S. will likely be stronger this year as a combined Sprint/T-Mobile boosts up spending to use its…
Source Reuters Tech News
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