Ericsson CEO Borje Ekholm pointed to a stabilising RAN market, momentum around programmable networks and growth in the US as reasons for optimism, as the company rounded off 2024 with a strong final quarter.  

In an earnings statement, Ericsson reported net sales of SEK72.9 billion ($6.7 billion) compared with SEK71.9 billion in Q4 2023. 

Net income hit SEK4.9 billion, up from SEK3.4 billion.

North America was a strong market, with sales up 54 per cent to SEK22 billion, driven by contract wins, increased network investments and strong year-end software demand.

Europe and Latin America booked more modest growth of 2 per cent to SEK19.4 billion.

The overall picture was offset by a poor performance in Southeast Asia, Oceania and India, with sales declining 28 per cent to SEK8.4 billion.

Breaking out business units, Mobile Networks sales grew 4 per cent to SEK46.8 billion, driven mainly by its North America business.

Cloud Software and Services was broadly flat at SEK19.5 billion and Enterprise dropped 9 per cent to SEK6.1 billion due to lower sales from its Global Communications Platform

Ekholm said the company was progressing well against its strategic plan, adding hype around programmable networks continued to build and customers were increasingly recognising the benefits of making mobile networks accessible through APIs.

Looking ahead to 2025, Ekholm said the company would continue to benefit from its “leadership position” in Networks, adding it is prioritising commercial performance in Enterprise.

“Our commitment remains to put high-performing, programmable and differentiated networks at the centre of the digitalisation of enterprise and society,” he added.