Swedish telecom gear maker Ericsson reported on Thursday a 7% drop in second-quarter sales, beating expectations as sluggish demand for 5G gear in most markets was slightly offset by 14% growth in North America.

Ericsson Q4 earnings beat forecast, warns of market decline in 2024

Revenue was 59.9 billion crowns ($5.69 billion) against a year-earlier 64.4 billion and an average forecast of 58.3 billion in an LSEG poll of analyst.