Ericsson CEO Not Worried

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Hans Vestberg, CEO of Ericsson, isn’t worried about the future of networks in North America despite slower deployment during the third quarter. “Some operators in North America might have been optimizing their cash flow, but our position hasn’t changed,” said Ericsson CEO Hans Vestberg at a conference in Stockholm. “I don’t see any change in the long-term demand in North America. It’s still the most innovative market in terms of technology. It’s still seeing the most demand. It’s the most innovative market when it comes to new phones.” The three major tower companies, Crown Castle, American Tower, and SBA, all reported earnings above expectations. But the carriers didn’t perform as well. For example, Jennifer Fritzsche, Senior Analyst at Wells Fargo, noted that it was a mixed quarter for AT&T. While Wireless margin came in a bit better, wireline margins and EPS were a bit weaker. Even though the carriers had a slow quarter, Vestberg believes that the future still looks bright.

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