10 Firms End Stronger on Tuesday

2. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

Ericsson rallied for a third consecutive day on Tuesday, adding 8.32 percent to finish at $8.07 apiece as investors cheered the company’s better-than-expected first-quarter earnings performance.

According to the Swedish telephone equipment maker, earnings per share stood at 1.24 Swedish kronor, up by 61 percent year-on-year and well above analysts’ estimates.

Revenues, however, inched up by 3 percent to 55 billion kronor but missed consensus.

According to ERIC, the better-than-expected profit was attributed to the 20-percent growth in sales, which it owed to “accelerated network investments.”

“In the evolving global trade landscape and macro volatility, we continue to focus on controlling what we can control and delivering to our customers,” CEO Borje Ekholm said. “We are not immune, but we are resilient, with well-diversified production close to the customer and the flexibility to adapt to changing conditions over time.”