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Ericsson Stock Jumps as 5G Success in China Boosts Earnings. There’s More To Come. – Barron’s

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Ericsson
stock jumped close to 7% on Wednesday, as the Swedish telecoms company beat sales and profit expectations in the third quarter, helped by 5G contracts in China.The companys gross margins also reached their highest level since 2006, while the Covid-19 pandemic continued to have a limited impact on performance. Total revenue rose 1% to 57.5 billion Swedish krona ($6.6 billion), while underlying salesadjusted for comparable sales and currencygrew 7%, driven by 5G sales in China, where the…

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