Ericsson said its profit after tax reached SEK4.2 billion (US$430.7 million) in the first three months of the year, surging 61% compared to the same period in 2024.

Sales rose 3% to SEK55 billion, slightly lower than forecast by analysts surveyed by Bloomberg.

It sales in the Americas region surged 20%, offsetting declines in other parts of the world, the company said in its quarterly earnings statement.

“In North America, sales in Networks grew strongly, benefiting from previous contract wins and accelerated network investments by other customers, in part reflecting tariff uncertainty,” Ericsson said.

North America is a key market for Ericsson, accounting for almost a third of its revenue.

US President Donald Trump implemented a tariff of 10% on global imports this month, but he paused plans for higher duties on dozens of countries, including a 20% duty for goods from EU nations.

“In the evolving global trade landscape and macro volatility, we continue to focus on controlling what we can control and delivering to our customers,” Ericsson chief executive 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,” he said.