Ericsson Stock Edges Higher on Signs Telco Demand Will Stabilize Later This Year

Ericsson shares are trading higher after the Stockholm-based provider of telecommunications equipment posted mixed quarterly results, including some signs of stabilization in the company’s business. Telecom equipment companies have been hurt in recent quarters by excess inventories at the wireless carriers, particularly in North America. For the quarter, Ericsson posted sales of 53.3 billion Swedish krona (about $4.87 billion), down 15% from a year ago, off 26% sequentially, and slightly below consensus.