Ericsson shares jump 6% as sales fall less than expected, North America returns to growth

Ericsson announced it is planning to cut jobs as part of its cost-cutting measures. Shares reached their highest level since September 2022, despite the company also reporting a net loss of 11 billion kronor, down from a 2.6 billion profit in first quarter of the year. Shares were trading up 6% as of 9:40 a.m. London time. While once known for telephone operations and mobiles, Ericsson now focuses on producing 5G network infrastructure and cloud software. But along with rivals such as Finland's Nokia, Erics ...