愛立信第二季度調整後毛利率48.4% 淨銷售額527億瑞典克朗按年跌6%

EX-99.1
2
a26q2report.htm
EX-99.1

26Q2 report
Ericsson  |  Second quarter report 2026. July 14, 2026.

1

 

Second quarter report 2026
Strategic highlights – disciplined execution and margin resilience
–Adjusted gross margin of 48.4%, supported by solid operational execution and improved margins in Mobile Networks.
–Strong net cash position supporting continued investments and capital returns, with SEK 8.2 b. returned to shareholders in Q2.
–Demonstrated AI-enabled drone sensing and tracking using existing cell towers at a Texas stadium during a major global sporting 
event.
 
Financial highlights – solid financial performance
–Reported sales were SEK 52.7 (56.1) b. Organic* sales decreased by -1%* YoY primarily due to lower IPR licensing revenues, 
reflecting a non-recurring benefit from a partial settlement in the prior year period. Organic* sales grew in three out of four market 
areas. 
–Adjusted1 gross income was SEK 25.5 (27.0) b., with solid operational execution partly offset by currency headwinds. Reported 
gross income was SEK 24.1 (26.6) b.
–Adjusted1 gross margin was 48.4% (48.0%). Networks and Cloud Software and Services adjusted gross margin increased. 
Reported gross margin was 45.8% (47.5%).
–Adjusted1 EBITA was SEK 6.9 (7.4) b. with a 13.1% (13.2%) margin, benefiting from continued strong margin expansion in Cloud 
Software and Services. Reported EBITA was SEK 6.3 (6.8) b., with an 11.9% (12.0%) margin.
–Net income was SEK 4.1 (4.6) b. EPS diluted was SEK 1.22 (1.37).
–Free cash flow before M&A was SEK 0.4 (2.6) b. 
–Capital returns to shareholders were SEK 8.2 b. in Q2, including SEK 3.2 b. of share repurchases.

Comment from Börje Ekholm, President and CEO 
Our Q2 results underscore the strength of our portfolio and disciplined execution. Adjusted gross margin was 48%, up by 2 
percentage points after normalizing for the one-off benefit of the IPR settlement last year.
In Q2, we took action to mitigate component cost inflation. As the impact builds in the coming quarters, we will continue to pursue 
internal measures and pricing actions to help offset the effect. We also expect some pressure on Networks adjusted gross margin in 
Q3 due to higher volumes of network rollout projects.
Ericsson enters the next phase from a position of strength. Over recent years, we have strengthened our portfolio to capture the 
next wave of AI-driven connectivity. Building on our technology leadership in mobile networks, we have expanded into attractive 
growth areas, positioning Ericsson to capitalize as AI increasingly moves into the physical world.

SEK b.

Q2
2026

Q2
2025

YoY
change

Q1
2026

QoQ
 change

Jan-Jun
2026

Jan-Jun
2025

YoY
 change

Net sales

52.7

56.1

-6%

49.3

7%

102.0

111.2

-8%

 Organic sales growth*²⁾

-

-

-1%

-

-

-

-

2%

Gross income

24.1

26.6

-9%

23.3

4%

47.4

53.2

-11%

Gross margin²⁾

45.8%

47.5%

-

47.2%

-

46.5%

47.8%

-

EBIT

5.9

6.4

-7%

1.4

-

7.4

12.3

-40%

EBIT margin²⁾

11.2%

11.4%

-

2.9%

-

7.2%

11.1%

-

EBITA²⁾

6.3

6.8

-7%

1.8

-

8.1

13.4

-40%

EBITA margin²⁾

11.9%

12.0%

-

3.6%

-

7.9%

12.1%

-

Net income

4.1

4.6

-12%

0.9

-

5.0

8.8

-44%

EPS diluted, SEK

1.22

1.37

-11%

0.27

-

1.48

2.61

-43%

Free cash flow before M&A²⁾

0.4

2.6

-85%

5.9

-93%

6.3

5.3

19%

Net cash, end of period²⁾

59.8

36.0

66%

68.1

-12%

59.8

36.0

66%

Adjusted financial measures¹⁾²⁾

Adjusted gross income

25.5

27.0

-5%

23.7

7%

49.2

53.7

-8%

Adjusted gross margin

48.4%

48.0%

-

48.1%

-

48.2%

48.3%

-

Adjusted EBIT

6.5

7.0

-7%

5.2

25%

11.7

13.3

-12%

Adjusted EBIT margin

12.4%

12.6%

-

10.6%

-

11.5%

11.9%

-

Adjusted EBITA

6.9

7.4

-7%

5.6

24%

12.4

14.4

-13%

Adjusted EBITA margin

13.1%

13.2%

-

11.3%

-

12.2%

12.9%

-

* Sales adjusted for the impact of acquisitions and divestments and effects of foreign currency fluctuations.

  ¹⁾ Adjusted metrics are adjusted to exclude restructuring charges.

²⁾ Non-IFRS financial measures are reconciled at the end of this report to the most directly reconcilable line items in the financial statement.

Ericsson  |  Second quarter report 2026. July 14, 2026.

Group results

2

Amounts marked with an ‘*’ in this document represent sales growth adjusted for the impact of acquisitions and divestments and effects of foreign currency 
fluctuations, also named organic sales growth. These numbers present performance on a comparable basis to improve the comparability of results between 
periods. Organic sales growth figures are non-IFRS measures. 
‘Adjusted’ metrics are adjusted to exclude restructuring charges and are non-IFRS measures. This is a change in nomenclature only.
See ‘Financial statements and other information’ for Alternative performance measures.

Group results

SEK b.

Q2
2026

Q2
2025

YoY
change

Q1
2026

QoQ
 change

Jan-Jun
2026

Jan-Jun
2025

YoY
 change

Net sales

52.7

56.1

-6%

49.3

7%

102.0

111.2

-8%

 Organic sales growth*¹⁾

-

-

-1%

-

-

-

-

2%

Gross income

24.1

26.6

-9%

23.3

4%

47.4

53.2

-11%

Gross margin

45.8%

47.5%

-

47.2%

-

46.5%

47.8%

-

Research and development (R&D) expenses

-10.5

-12.2

-

-13.5

-

-24.0

-24.2

-

Selling and administrative expenses

-7.7

-8.2

-

-8.1

-

-15.9

-16.8

-

Impairment losses on trade receivables

0.0

0.0

-

-0.2

-

-0.2

0.1

-

Other operating income and expenses

0.1

0.1

33%

0.0

-

0.1

0.1

51%

Share of earnings of associated companies

-0.1

0.0

-

-0.1

-

-0.2

0.0

-

EBIT

5.9

6.4

-7%

1.4

-

7.4

12.3

-40%

EBIT margin¹⁾

11.2%

11.4%

-

2.9%

-

7.2%

11.1%

-

EBITA¹⁾

6.3

6.8

-7%

1.8

-

8.1

13.4

-40%

EBITA margin¹⁾

11.9%

12.0%

-

3.6%

-

7.9%

12.1%

-

Financial income and expenses, net

-0.2

0.0

-

-0.2

-

-0.4

0.0

-

Income tax

-1.7

-1.8

-

-0.4

-

-2.0

-3.4

-

Net income

4.1

4.6

-12%

0.9

-

5.0

8.8

-44%

Restructuring charges

-0.6

-0.7

-

-3.8

-

-4.4

-0.9

-

Adjusted financial measures¹⁾

Adjusted gross income

25.5

27.0

-5%

23.7

7%

49.2

53.7

-8%

Adjusted gross margin

48.4%

48.0%

-

48.1%

-

48.2%

48.3%

-

Adjusted EBIT

6.5

7.0

-7%

5.2

25%

11.7

13.3

-12%

Adjusted EBIT margin

12.4%

12.6%

-

10.6%

-

11.5%

11.9%

-

Adjusted EBITA

6.9

7.4

-7%

5.6

24%

12.4

14.4

-13%

Adjusted EBITA margin

13.1%

13.2%

-

11.3%

-

12.2%

12.9%

-

1) Non-IFRS financial measures are reconciled at the end of this report to the most directly reconcilable line items in the financial statements.

Net sales
Reported sales decreased by -6% YoY to SEK 52.7 (56.1) b., 
including a SEK -1.8 b. currency impact. Networks sales declined 
by -8% to SEK 33.0 b. Cloud Software and Services sales 
increased by 3% to SEK 14.7 b. Enterprise sales declined by 
-19% to SEK 4.5 b., mainly driven by a SEK -1.0 b. impact from 
the divestment of iconectiv in 2025. Sales in segment Other were 
SEK 0.4 b.
Organic sales declined by -1%* YoY due to lower IPR 
licensing revenues, reflecting a non-recurring benefit in the prior 
year period. Organic sales grew in market areas North East Asia, 
South East Asia, Oceania and India and in market area Europe, 
Middle East and Africa. Sales in market area Americas declined 
by -1%*. Networks sales decreased by -4%* mainly reflecting 
lower IPR licensing revenues. Cloud Software and Services sales 
grew by 5%*, with growth in all market areas. Sales in segment 
Enterprise grew by 3%*, with growth in Global Communications 
Platform and Enterprise Wireless Solutions.
IPR licensing revenues declined to SEK 3.4 (4.9) b. The prior-
year period included non-recurring revenues following the partial 
settlement of a patent licensing dispute. 82% of IPR licensing 
revenues are reported in segment Networks, with the remainder 
in Cloud Software and Services. 
Gross income and margin
Gross margin decreased to 45.8% (47.5%). Gross margin 
declined in Networks and Cloud Software and Services as 
restructuring charges more than offset the benefits of cost-
reduction actions and improved delivery performance. The 
Enterprise margin declined, primarily due to the impact of the 
divestment of iconectiv. Gross margin and gross income were 
negatively impacted by lower IPR licensing revenues, reflecting 
the non-recurring benefit in the prior year period.
Gross income declined to SEK 24.1 (26.6) b., due to lower 
sales and gross margin, a negative currency impact of SEK -0.8 
b. and the impact of the divestment of iconectiv.
Adjusted gross income decreased to SEK 25.5 (27.0) b., with 
a margin of 48.4% (48.0%). 
Research and development (R&D) expenses
R&D expenses decreased to SEK -10.5 (-12.2) b., including 
restructuring charges of SEK 0.9 (-0.3) b. and a positive currency 
impact of SEK 0.1 b. The quarter included a partial reversal of the 
restructuring provision recognized in Q1. Excluding these 
impacts, R&D declined as a result of savings from cost-reduction 
actions, partly offset by increased investments for technology 
leadership. 
Selling and administrative (SG&A) expenses
SG&A expenses were SEK -7.7 (-8.2) b., including restructuring 
charges of SEK -0.1 (0.0) b. and a currency benefit of SEK 0.2 b. 
SG&A expenses declined in all segments as a result of prior 
periods’ cost-reduction actions. 

Ericsson  |  Second quarter report 2026. July 14, 2026.

Group results

3

Other operating income and expenses
Other operating income and expenses were SEK 0.1 (0.1) b. 
Restructuring charges
Restructuring charges were SEK -0.6 (-0.7) b. mainly related to 
redundancy activities. Gross income included SEK -1.4 (-0.3) b. 
of restructuring charges, while operating expenses included 
SEK 0.8 (-0.3) b. of restructuring charges. Following a 
reassessment of expected costs, a portion of the restructuring 
provision recognized in Q1 was reversed in the quarter.
EBITA
EBITA decreased to SEK 6.3 (6.8) b. Lower gross income was 
largely offset by lower operating expenses. EBITA was impacted 
by a negative currency impact of SEK -0.6 b. The EBITA margin 
was 11.9% (12.0%).
Adjusted EBITA decreased to SEK 6.9 (7.4) b. The adjusted 
EBITA margin was 13.1% (13.2%).
EBIT 
EBIT decreased to SEK 5.9 (6.4) b. with a margin of 11.2% 
(11.4%). Amortization impacted EBIT by SEK -0.4 (-0.4) b. 
Adjusted EBIT decreased to SEK 6.5 (7.0) b. with a margin of 
12.4% (12.6%). 
Financial income and expenses, net
Financial income and expenses were SEK -0.2 (0.0) b. Improved 
net interest, driven by higher asset volumes and lower 
borrowings, was offset by negative net foreign exchange effects, 
including a currency hedge effect of SEK -0.1 (0.1) b.
Income tax
Taxes were SEK -1.7 (-1.8) b. A tax rate of 29% (28%) is 
expected for the full year, mainly reflecting the impact of elevated 
restructuring costs.
Net income
Net income decreased to SEK 4.1 (4.6) b. Diluted EPS was 
SEK 1.22 (1.37).
Employees 
The number of employees on June 30, 2026, was 86,536 
compared with 87,521 on March 31, 2026. On June 30, 2025, the 
number of employees was 91,937.

Financial highlights, year-to-date (Jan-Jun) development 
Reported sales decreased by -8% to SEK 102.0 (111.2) b. with a 
currency impact of SEK -9.6 b. Sales in Networks declined by 
-8% to SEK 66.0 (71.4) b. while sales in Cloud Software and 
Services declined by -3% to SEK 26.6 (27.3) b. Sales in 
Enterprise declined by -25% to SEK 8.7 (11.5) b. including a SEK 
-2.1 b. impact from the divestment of iconectiv in 2025.
Organic sales increased by 2%*. Networks sales increased by 
1%*, Cloud Software and Services by 5%* and Enterprise by 
4%*.
Organic sales increased in three out of four market areas. 
Sales in market area Americas declined slightly, reflecting strong 
North America deliveries in the prior-year period, while sales in 
Latin America increased. IPR licensing revenues declined to SEK 
6.5 (8.0) b., as the prior-year period benefited from higher 
revenues related to previously unlicensed periods.
Gross income decreased to SEK 47.4 (53.2) b. impacted by 
lower net sales and a negative currency impact of SEK -4.6 b. 
Gross income was also impacted by SEK -1.8 (-0.5) b. of 
restructuring charges. Gross margin was 46.5% (47.8%). 
Adjusted gross income decreased to SEK 49.2 (53.7) b., with a 
margin of 48.2% (48.3%). The adjusted gross margin reflected 
higher margins in Networks and Cloud Software and Services, 
mainly as a result of cost-reduction actions, offset by negative 
currency impacts. The gross margin in Enterprise declined YoY 
primarily as a result of the divestment of iconectiv. 
EBITA decreased to SEK 8.1 (13.4) b. with a margin of 
7.9% (12.1%), impacted by lower net sales, increased 
restructuring charges, the divestment of iconectiv, and a negative 
currency impact of SEK -2.8 b. Adjusted EBITA decreased to SEK 
12.4 (14.4) b. with a margin of 12.2% (12.9%).  
EBIT decreased to SEK 7.4 (12.3) b., with a margin of 
7.2% (11.1%). Adjusted EBIT was SEK 11.7 (13.3) b. with a 
margin of 11.5% (11.9%). Amortization of intangible assets was 
SEK -0.7 (-1.1) b. 
Net income decreased to SEK 5.0 (8.8) b. including 
restructuring charges of SEK -4.4 (-0.9) b. Diluted EPS 
decreased to SEK 1.48 (2.61).

Ericsson  |  Second quarter report 2026. July 14, 2026.

Market area sales

4

Market area sales

SEK b.

Q2
2026

Q2
2025

YoY
change

YoY
organic 
growth

Q1
2026

QoQ
 change

Jan-Jun
2026

Jan-Jun
2025

YoY
 change

YoY
organic
 growth

Americas

18.8

19.8

-5%

-1%

17.1

10%

35.9

40.7

-12%

-2%

Europe, Middle East and Africa

16.3

16.2

0%

2%

14.3

14%

30.6

30.7

0%

6%

South East Asia, Oceania and India

5.4

5.5

-2%

4%

6.9

-22%

12.4

12.7

-3%

8%

North East Asia

3.7

3.8

-1%

8%

3.1

20%

6.9

7.0

-2%

11%

Other

8.5

10.9

-22%

-12%

7.9

7%

16.4

20.1

-19%

-1%

 Of which IPR

3.4

4.9

-30%

-

3.1

9%

6.5

8.0

-19%

-

Total

52.7

56.1

-6%

-1%

49.3

7%

102.0

111.2

-8%

2%

Market Area Americas 
Sales decreased by -1%* YoY. Networks sales declined in North 
America, partly offset by continued growth in Latin America. 
Cloud Software and Services sales increased supported 
by services growth in North America. Reported sales declined by 
-5% YoY. 

Market Area Europe, Middle East and Africa
Sales increased by 2%* YoY. Networks sales in Middle East & 
Africa increased, driven by 5G network investments in certain 
markets. Networks sales in Europe declined, primarily due to the 
gradual completion of modernization projects in some markets. 
Cloud Software and Services sales increased in Europe due to 
core network upgrades to 5G in multiple markets while sales in 
Middle East & Africa increased due to the timing of Core project 
delivery milestones. Reported sales were stable. 

Market Area South East Asia, Oceania and India
Sales increased by 4%* YoY. Networks sales increased as a 
result of the timing of project deliveries in South East Asia. Cloud 
Software and Services sales increased, reflecting the timing of 
project
deliverables. Reported sales decreased by -2% YoY.  

Market Area North East Asia
Sales increased by 8%* YoY. Networks sales increased mainly 
due to higher deliveries in Japan. Cloud Software and Services 
sales increased due to the timing of project milestones in multiple 
markets. Reported sales decreased by -1% YoY.

Market Area Other
Market area Other includes IPR licensing revenues and almost 
all sales in segment Enterprise. Sales decreased by -12%*, 
mainly due to the decline in IPR licensing revenues, partly offset 
by organic sales growth in Enterprise and a positive hedge effect. 
Reported sales decreased by -22% YoY, mainly reflecting the 
divestment of iconectiv in Q3 2025.

Ericsson  |  Second quarter report 2026. July 14, 2026.

Segment results

5

Segment Results

Mobile Networks – 
Segment Networks

SEK b.

Q2
2026

Q2
2025

YoY
change

Q1
2026

Net sales

33.0

35.7

-8%

32.9

  Of which IPR licensing revenues

2.8

4.0

-30%

2.6

 Organic sales growth

-

-

-4%

-

Gross income

16.0

17.6

-9%

16.4

Gross margin

48.3%

49.3%

-

49.7%

EBIT

6.0

6.4

-6%

3.3

EBIT margin

18.2%

17.8%

-

10.0%

EBITA

6.0

6.4

-6%

3.3

EBITA margin

18.3%

17.9%

-

10.1%

Restructuring charges

0.2

-0.1

-

-3.1

Adjusted financial measures

Adjusted gross income

16.6

17.7

-6%

16.6

Adjusted gross margin

50.4%

49.5%

-

50.4%

Adjusted EBIT

5.8

6.5

-10%

6.3

Adjusted EBIT margin

17.6%

18.1%

-

19.2%

Adjusted EBITA

5.8

6.5

-10%

6.4

Adjusted EBITA margin

17.7%

18.2%

-

19.3%

Breakdown of sales into products, services and IPR licensing is available in 
note 2.
Net sales
Sales decreased by -4%* YoY, mainly reflecting lower IPR 
licensing revenues following a non-recurring benefit in the prior-
year period. Excluding IPR licensing revenues, organic sales 
would have been broadly stable YoY. Organic sales grew in 
market areas North East Asia and in South East Asia, Oceania 
and India, while sales declined in the other two market areas. 
Reported sales decreased by -8% to SEK 33.0 (35.7) b. including 
a negative currency impact of 
SEK -1.2 b. 
Gross income and margin
Adjusted gross income decreased to SEK 16.6 (17.7) b. impacted 
by lower sales and a currency impact of SEK -0.6 b.
Adjusted gross margin increased to 50.4% (49.5%), supported 
by a favorable product mix and cost-reduction actions, partly 
offset by lower IPR licensing revenues, reflecting a non-recurring 
benefit in the prior-year period.
EBITA 
Adjusted EBITA decreased to SEK 5.8 (6.5) b., including a SEK 
-0.5 b. currency impact. Lower gross income was partly offset by 
lower operating expenses, reflecting continued efficiency 
improvements and currency benefits. R&D investments continued 
to support the strategy to build high-performance programmable 
networks. The adjusted EBITA margin was 17.7% (18.2%).
Net sales for the rolling four quarters were SEK 145.6 b. and the 
adjusted EBITA margin was 20.2%.

Mobile Networks –
Segment Cloud Software and Services

SEK b.

Q2
2026

Q2
2025

YoY
change

Q1
2026

Net sales

14.7

14.4

3%

11.8

  Of which IPR licensing revenues

0.6

0.9

-30%

0.6

 Organic sales growth

-

-

5%

-

Gross income

5.9

6.0

-2%

4.9

Gross margin

39.8%

41.5%

-

41.5%

EBIT

1.1

0.8

36%

0.0

EBIT margin

7.8%

5.8%

-

0.0%

EBITA

1.1

0.8

36%

0.0

EBITA margin

7.8%

5.9%

-

0.1%

Restructuring charges

-0.7

-0.5

-

-0.6

Adjusted financial measures

Adjusted gross income

6.5

6.2

5%

5.1

Adjusted gross margin

44.1%

43.2%

-

43.2%

Adjusted EBIT

1.8

1.4

33%

0.6

Adjusted EBIT margin

12.4%

9.6%

-

5.3%

Adjusted EBITA

1.8

1.4

33%

0.6

Adjusted EBITA margin

12.4%

9.6%

-

5.3%

Breakdown of sales into products, services and IPR licensing is available in 
note 2.
Net sales
Sales increased by 5%* YoY. Sales grew in all market areas. 
Reported sales increased by 3% to SEK 14.7 (14.4) b., including 
a currency impact of SEK -0.4 b. Services sales accounted for 
62% (62%) of sales.
In market area Europe, Middle East and Africa, sales growth 
was driven by core network upgrades in Europe and project 
deliverables in Middle East and Africa. Sales in market area 
North East Asia grew, driven by increased software sales. In the 
other market areas, sales growth was driven by accelerated 
project deliverables.
Gross income and margin
Adjusted gross margin increased to 44.1% (43.2%), supported by 
strong strategy execution with improved delivery performance, 
partly offset by the impact of lower IPR licensing revenues, 
reflecting a non-recurring benefit in the prior-year period.
Adjusted gross income increased to SEK 6.5 (6.2) b. including 
a currency impact of SEK -0.1 b.
EBITA 
Adjusted EBITA improved to SEK 1.8 (1.4) b., with no currency 
impact. EBITA was supported by improved gross income as well 
as lower operating expenses, reflecting continued efficiency 
improvements and positive currency impacts. The adjusted 
EBITA margin was 12.4% (9.6%). 
Net sales for the rolling four quarters were SEK 61.9 b. and the 
adjusted EBITA margin was 13.1%.

Ericsson  |  Second quarter report 2026. July 14, 2026.

Segment results

6

Enterprise – 
Segment Enterprise

SEK b.

Q2
2026

Q2
2025

YoY
change

Q1
2026

Net sales

4.5

5.5

-19%

4.2

 Organic sales growth

-

-

3%

-

Gross income

2.3

3.0

-25%

2.0

Gross margin

50.7%

54.9%

-

48.9%

EBIT

-1.2

-0.9

-

-1.8

EBIT margin

-27.1%

-15.7%

-

-44.2%

EBITA

-0.9

-0.5

-

-1.5

EBITA margin

-19.8%

-9.4%

-

-36.9%

Restructuring charges

-0.1

0.0

-

-0.1

Adjusted financial measures

Adjusted gross income

2.3

3.0

-25%

2.0

Adjusted gross margin

50.9%

54.9%

-

49.0%

Adjusted EBIT

-1.2

-0.9

-

-1.7

Adjusted EBIT margin

-25.9%

-15.5%

-

-41.9%

Adjusted EBITA

-0.8

-0.5

-

-1.4

Adjusted EBITA margin

-18.7%

-9.3%

-

-34.6%

Net sales
Sales increased by 3%* YoY, with growth in Global 
Communications Platform and Enterprise Wireless Solutions. 
Reported sales decreased by -19% YoY to SEK 4.5 (5.5) b., 
reflecting the divestment of iconectiv in Q3 2025 and a SEK -0.2 
b. currency impact.
Growth in Global Communications Platform was driven by 
higher sales* in CPaaS and in network API powered solutions. 
Sales* in Enterprise Wireless Solutions benefited from growth in 
WWAN solutions.
Gross income and margin
Adjusted gross margin decreased to 50.9% (54.9%), reflecting 
the impact of the divestment of iconectiv in Q3 2025 and a 
change in product mix in Global Communications Platform and 
Enterprise Wireless Solutions. Adjusted gross income was SEK 
2.3 (3.0) b., reflecting the divestment of iconectiv in Q3 2025 and 
a negative currency impact of SEK -0.1 b.
EBITA (loss)
Adjusted EBITA (loss) was SEK -0.8 (-0.5) b. The impact from the 
divestment of iconectiv in Q3 2025 was partly offset by cost 
reductions in Global Communications Platform and Enterprise 
Wireless Solutions. The currency impact was SEK 0.0 b. Adjusted 
EBITA margin was -18.7% (-9.3%). 
Net sales for the rolling four quarters were SEK 18.3 b. and the 
adjusted EBITA margin was 19.8%, including a 41.4 percentage 
point benefit from the iconectiv gain in Q3 2025. 

Segment Other

SEK b.

Q2
2026

Q2
2025

YoY
change

Q1
2026

Net sales

0.4

0.5

-11%

0.4

 Organic sales growth

-

-

-6%

-

Gross income

0.0

0.0

-5%

0.0

Gross margin

0.5%

0.4%

-

-1.5%

EBIT

0.0

0.0

-

0.0

EBIT margin

-3.4%

9.5%

-

0.3%

EBITA

0.0

0.0

-

0.0

EBITA margin

-3.4%

9.5%

-

0.3%

Restructuring charges

-0.1

0.0

-

0.0

Adjusted financial measures

Adjusted gross income

0.1

0.0

-

0.0

Adjusted gross margin

13.3%

0.4%

-1.5%

Adjusted EBIT

0.0

0.0

3%

0.0

Adjusted EBIT margin

10.9%

9.5%

-

0.3%

Adjusted EBITA

0.0

0.0

3%

0.0

Adjusted EBITA margin

10.9%

9.5%

-

0.3%

Net sales
Reported sales were SEK 0.4 (0.5) b. 
Gross income and margin
Adjusted gross income was SEK 0.1 (0.0) b. Adjusted gross 
margin was 13.3% (0.4%).
EBITA (loss)
Adjusted EBITA (loss) was SEK 0.0 (0.0) b. 
Net sales for the rolling four quarters were SEK 1.7 b. 

Ericsson  |  Second quarter report 2026. July 14, 2026.

Cash flow and financial position

7

Cash flow and financial position

Free cash flow bridge, SEK b.

Q2
2026

Q2
2025

Q1
2026

Jan-Jun
2026

Jan-Jun 
2025

Adjusted EBITA 

6.9

7.4

5.6

12.4

14.4

Depreciation and amortization of non-acquired assets 

1.6

1.8

1.6

3.3

3.8

Restructuring charges 

-0.6

-0.7

-3.8

-4.4

-0.9

Changes in operating net assets 

-4.4

-2.7

5.6

1.2

-5.5

Interest paid/received, taxes paid, and other 

-1.6

-1.8

-1.6

-3.2

-3.2

Cash flow from operating activities 

1.9

4.2

7.4

9.3

8.5

Net capex and other investing activities 

-1.0

-1.0

-1.0

-2.1

-2.1

Repayment of lease liabilities 

-0.5

-0.6

-0.5

-1.0

-1.1

Free cash flow before M&A 

0.4

2.6

5.9

6.3

5.3

Cash flow from operating activities 

1.9

4.2

7.4

9.3

8.5

Cash flow from investing activities 

-3.7

-10.9

1.9

-1.9

-9.6

Cash flow from financing activities 

-9.2

-3.5

-2.3

-11.5

-4.2

SEK b.

 Jun 30
2026

 Jun 30
2025

 Mar 31
2026

Gross cash 

91.3

73.3

99.5

 - Borrowings, current 

9.5

7.3

9.9

 - Borrowings, non-current 

22.0

29.9

21.5

Net cash 

59.8

36.0

68.1

Equity 

104.8

85.7

103.1

Equity ratio (%) 

36.4%

31.7%

35.5%

Capital turnover (times) 

1.4

1.6

1.4

Return on capital employed (%) 

20.7%

16.8%

21.4%

Non-IFRS financial measures are reconciled at the end of this report to the most directly reconcilable line items in the financial statements.

Cash flow 
Cash flow from operating activities was SEK 1.9 (4.2) b. driven 
by earnings and impacted by increased operating net assets. 
The increase mainly reflected higher inventories ahead of 
planned Q3 deliveries.
Quarterly cash flow from operating activities decreased 
compared to the prior-year period, mainly due to higher 
inventories in Q2 2026. In first-half 2026, cash flow from 
operating activities increased year on year, driven by strong cash 
generation in Q1.
Cash flow from investing activities was SEK -3.7 (-10.9) b. 
Investing cash flow in the quarter was driven by purchases of 
interest-bearing securities.
Cash flow from financing activities was SEK -9.2 (-3.5) b. 
Financing cash flow in the quarter included dividends paid of 
SEK -5.0 b. and share repurchases of SEK -3.2 b.
Financial position 
Gross cash decreased sequentially by SEK -8.2 b. to SEK 91.3 
b., impacted by dividend payments and share repurchases.
Net cash decreased sequentially by SEK -8.3 b. to SEK 59.8 
b.
The average maturity of parent company borrowings was 2.5 
years as of June 30, 2026, compared with 2.7 years as of March 
31, 2026.
Liabilities for post-employment benefits decreased 
sequentially to SEK 18.0 b. from SEK 18.2 b. The Swedish 
defined benefit obligation (DBO) was calculated using a discount 
rate based on the yields of Swedish government bonds. If the 
discount rate had been based on Swedish covered mortgage 
bonds, the liability for post- employment benefits would have 
been approximately SEK 9.9 b., which is SEK 8.1 b. lower than 
current DBO. 

Ericsson  |  Second quarter report 2026. July 14, 2026.

Key data points

8

Key data points
Market
Dell’Oro estimates that the global RAN equipment market will 
remain stable in 2026.  
Source: Dell’Oro Mobile RAN Quarterly Report Q126, May 2026.
Ericsson
Net sales 
Reported average seasonality last 3 years (2023–2025), %.

Q4 → Q1

Q1 → Q2

Q2 → Q3

Q3 → Q4

Networks

-25%

+4%

+1%

+17%

Cloud Software and Services

-33%

+13%

+3%

+29%

Net sales may show large variations between quarters, including 
currency changes.
IPR licensing revenues
IPR licensing revenue growth opportunities remain in new market 
segments and through increased penetration of the smartphone 
market.
Following agreements reached in July 2026 with a top-10 
smartphone vendor and a payment terminal vendor, annualized 
recurring IPR licensing revenues were approximately SEK 13.5 b. 
Optimizing the terms and value of new agreements and 
renewals will remain a priority.
Currency exposure
Currency exposure can vary significantly from quarter to quarter. 
In 2025, approximately half of net sales were USD denominated, 
over 15% of net sales were EUR denominated, and five other 
currencies (INR, JPY, GBP, CNY, AUD) contributed approximately 
15% of net sales.
Further currency information is available at: 
https://www.ericsson.com/en/investors/financial-reports-and-
presentations/foreign-exchange-rates
Amortization of intangible assets
Amortization of intangible assets is expected to be around 
SEK -0.4 b. per quarter in segment Enterprise.
Restructuring charges
Restructuring charges for 2026 are expected to be at elevated 
levels.
Segments
Increased uncertainty remains in the outlook and in the broader 
macroeconomic and geopolitical environment.
The Q3 2026 outlook assumes currency rates of USD:SEK 9.7, 
EUR:SEK 11.0.
Networks 
Sales growth in Q3 2026 is expected to be above 3-year average 
seasonality.
Adjusted gross margin in Q3 2026 is expected to be in the range 
of 48% to 50%.
Cloud Software and Services
Sales growth in Q3 2026 is expected to be broadly similar to 3-
year average seasonality.

Ericsson  |  Second quarter report 2026. July 14, 2026.

Parent Company

9

Parent Company
Income after financial items January – June 2026, was 
SEK 29.0 (19.3) b.
At the end of the quarter, gross cash (cash, cash equivalents 
plus interest-bearing securities, current and non-current) 
amounted to SEK 78.4 (60.1) b. 
There was an increase in intercompany lending of SEK 2.7 b. 
and a decrease in intercompany borrowing of SEK 0.4 b. in the 
quarter.
At the end of the quarter, non-restricted equity amounted to 
SEK 58.4 (31.9) b., and total equity amounted to SEK 106.7 
(80.2) b.
The Parent Company has recognized dividends from 
subsidiaries of SEK 27.7 (18.9) b. in the quarter.
During the quarter, Ericsson has repurchased 29,535,981 
Class B shares for a total consideration of SEK 3.3 b. in 
accordance with the AGM authorization. Repurchased shares are 
held as treasury shares and are presented as a deduction from 
equity. 
In accordance with the conditions of the long-term variable 
compensation program (LTV) for Ericsson employees, 2,639,299 
shares from treasury stock were distributed to employees or sold 
in the second quarter. On June 30, 2026, Ericsson held 
64,898,958 treasury shares (38,002,276). Repurchased shares 
are reflected in the average number of shares outstanding and in 
the calculation of earnings per share. 

Ericsson  |  Second quarter report 2026. July 14, 2026.

Other Information

10

Other information 
Legal proceedings involving governmental authorities
In February 2022, Ericsson publicly disclosed that an internal 
investigation in 2019 included a review of the conduct of 
Ericsson employees, vendors and suppliers in Iraq during the 
period between 2011 to 2019. The investigators could not 
determine the ultimate recipients of any payments, nor identify 
that any Ericsson employee was directly involved in financing 
terrorist organizations. The Company’s 2019 internal Iraq 
investigation did not conclude that Ericsson made or was 
responsible for any payments to any terrorist organization. 
The Company continues to fully cooperate with the US 
Department of Justice (DOJ) in its investigation into matters 
discussed in the 2019 internal Iraq investigation report and 
related topics concerning jurisdictions including Iraq. As 
additional information continues to be identified and evaluated in 
continued cooperation with the DOJ during its ongoing 
investigation, it is expected that there will not be any conclusive 
determinations on the outcome until the investigation is 
completed. The scope and duration of the investigation remain 
uncertain.
In April 2019, Ericsson was informed by China’s State 
Administration for Market Regulation Anti-monopoly Bureau 
(SAMR) that SAMR has initiated an investigation into Ericsson’s 
patent licensing practices in China. Ericsson is cooperating with 
the investigation, which is still in a fact-finding phase. The next 
steps include continued fact-finding and meetings with SAMR in 
order to facilitate the authority’s assessment and conclusions. In 
case of adverse findings, SAMR has the power to impose 
behavioral and financial remedies.
Legal proceedings not involving governmental authorities
In August 2022, a civil lawsuit was filed in the United States 
District Court for the District of Columbia against 
Telefonaktiebolaget LM Ericsson and Ericsson Inc. (collectively, 
the “Ericsson defendants”). The lawsuit was brought by US 
military service members, employees of US government 
contractors and other civilians who were killed or injured in 
terrorist attacks in Iraq, Afghanistan and Syria from 2005 to 2021, 
as well as by their family members. The lawsuit asserts claims 
against the Ericsson defendants under the U.S. Anti-Terrorism 
Act alleging that the Ericsson defendants made payments that 
ultimately aided the terrorist organizations that committed, 
planned or authorized the attacks. In November 2022, the 
Ericsson defendants filed a motion to dismiss the complaint. On 
December 20, 2022, plaintiffs filed an amended complaint, which 
added additional plaintiffs, including a plaintiff injured in Turkey, 
and also named Ericsson AB (collectively with the Ericsson 
defendants, the “Ericsson corporate defendants”), President and 
CEO Börje Ekholm and a former employee (who has not been 
served with process) as additional defendants and also asserted 
additional allegations and claims. In March 2023, the Ericsson 
corporate defendants and Mr. Ekholm filed motions to dismiss 
the amended complaint. Plaintiffs filed their oppositions to 
defendants’ motions to dismiss the amended complaint in June 
2023, and defendants filed reply briefs in support of their motions 
to dismiss in July 2023. All briefing has been submitted, and 
resolution of the matter is pending with the District Court. All 
defendants will continue to vigorously defend this matter.
In February 2024, a second civil lawsuit also alleging 
violations of the U.S. Anti-Terrorism Act was filed in the United 
States District Court for the District of Columbia. The lawsuit was 
filed by the same law firm and involves substantially similar 
factual allegations and claims as those made in the Anti-
Terrorism Act lawsuit originally filed in August 2022, and similarly 
names the same Ericsson corporate defendants, President and 
CEO Börje Ekholm and a former employee as defendants. The 
new lawsuit was brought by additional US military service 
members, employees of US government contractors and other 
civilians who were killed or injured in terrorist attacks in Iraq, 
Afghanistan, Syria, Turkey, Niger, and France from 2005 to 2021, 
as well as by their family members. The District Court for the 
District of Columbia has stayed the proceedings in this matter 
pending its decision on the motions to dismiss in the earlier-filed 
suit. The defendants will vigorously defend this matter.
In November 2025, a third civil lawsuit also alleging violations 
of the US Anti-Terrorism Act was filed in the US District Court for 
the District of Columbia. The lawsuit was filed by a law firm not 
involved in the August 2022 and February 2024 lawsuits and 
involves substantially similar factual allegations and claims to 
those made in the Anti-Terrorism Act lawsuits filed in August 
2022 and February 2024, and similarly names the same Ericsson 
corporate defendants, CEO Börje Ekholm and a former 
employee as defendants. The new lawsuit was brought by 
additional US military service members, employees of US 
government contractors and other civilians who were killed or 
injured in terrorist attacks in France, Afghanistan, and Belgium 
from 2012 to 2018, as well as by their family members. The 
District Court for the District of Columbia has stayed the 
proceedings in this matter pending its decision on the motions to 
dismiss in the earlier-filed suit. The defendants will vigorously 
defend this matter.
In March 2026, a fourth civil lawsuit also alleging violations of 
the US Anti-Terrorism Act was filed in the US District Court for 
the District of Columbia. The lawsuit involves substantially similar 
factual allegations and claims to those made in the Anti-Terrorism 
Act lawsuits filed in August 2022, February 2024, and November 
2025, and similarly names the same Ericsson corporate 
defendants, CEO Börje Ekholm and a former employee as 
defendants. The new lawsuit was brought by additional US 
military service members and civilians who were killed or injured 
in terrorist attacks in Afghanistan, Iraq, Niger, Tajikistan and 
Turkey from 2005 to 2018, as well as by their family members. 
The District Court for the District of Columbia has stayed the 
proceedings in this matter pending its decision on the motions to 
dismiss in the earlier-filed suit. The defendants will vigorously 
defend this matter.
Beginning on August 4, 2023, a number of civil lawsuits have 
been filed against Telefonaktiebolaget LM Ericsson in Solna 
District Court, Sweden. 93 claimants have filed suit, which are 
coordinated and financed by a UK-based litigation funder. The 
claimants consist of a group of non-Swedish funds and financial 
institutions that allegedly are or have been shareholders of the 
Company. Their damages claims are primarily based on alleged 
inadequate disclosure of the contents of the Company’s 2019 
internal Iraq investigation report. Ericsson filed its statement of 
defense on March 15, 2024. On February 14, 2025, the District 
Court ordered Ericsson to produce the 2019 internal Iraq 

Ericsson  |  Second quarter report 2026. July 14, 2026.

Other Information

11

investigation report to the claimants’ external counsel. Ericsson 
appealed the decision and on August 15, 2025, the Court of 
Appeal overturned the District Court’s decision. The claimants 
appealed, but on March 12, 2026, the Supreme Court refused 
leave to appeal. Proceedings on the merits of the case will now 
continue in the District Court. Ericsson will continue to vigorously 
defend this matter. 
The Company actively manages its IPR portfolio and its need 
for third-party licenses and is involved from time to time, in the 
ordinary course of business, in litigation related thereto, as 
plaintiff, defendant and other capacities.
In addition to the proceedings discussed above, the Company 
is, and in the future may be, involved in various other regulatory 
investigations, enforcement actions, lawsuits, claims (including 
claims by third-parties the Company has indemnified against 
infringement liability or provided guarantees to) and proceedings 
incidental to the ordinary course of business and transactions.
CEO transition arrangements
On June 16, 2026, the Company announced that Börje Ekholm is 
retiring from Ericsson. Börje Ekholm will step down as CEO on 
September 30, 2026, and act as executive advisor to the new 
CEO until June 15, 2027. Under his employment contract, he has 
a 12-month notice period from June 16, 2026, to June 15, 2027, 
during which salary and benefits will be paid in line with 
contractual terms. Short- and long-term variable compensation 
will be determined in accordance with the Company’s plan rules, 
including pro-rated vesting of awards for performance periods 
that continue after his employment ends. From June 15, 2027, 
Börje Ekholm will be subject to a 36-month non-compete 
undertaking, for which fixed compensation totaling SEK 14.7 
million (USD 1.59 million) will be paid over the three-year period. 
Further information will be disclosed as required in the 2026 
Annual Report.
PRESS RELEASES

May 13, 
2026

Ericsson to utilize mandate to transfer shares

May 29, 
2026

Ericsson’s Nomination Committee appointed

June 16, 
2026

Per Narvinger appointed new President and CEO of Ericsson as 
Börje Ekholm steps down

June 18, 
2026

Ericsson appoints David Hammarwall Head of Business Area 
Networks

Information on the share buyback program and related press 
releases is available on the Ericsson investor website at:
Share buyback program

Ericsson  |  Second quarter report 2026. July 14, 2026.

Risk factors

12

Risk factors
Ericsson is exposed to a number of risks in its activities. To 
stimulate identification and support cross-functional treatment 
within the Ericsson Group, risks are grouped in a number of 
categories, including, for example, risks relating to technology, 
IPR, compliance, project execution, operations, supply chain and 
sourcing concentration, products and services, customer 
concentration, treasury and accounting, the geopolitical 
environment, M&A, cybersecurity and occupational health and 
safety. Ericsson’s risk management is embedded into strategy 
development and operational processes, and material Group 
risks are regularly assessed and reviewed by executives as 
required by Ericsson’s Material Group Risk Protocol to ensure 
accountability, effectiveness, efficiency, business continuity and 
compliance. Risks are defined in both a short-term and long-term 
perspective and are related to long-term objectives and strategic 
direction as well as to short-term objectives. Risk factors and 
uncertainties of relevance to Ericsson are described in the 
Ericsson Annual Report 2025 and in the Annual Report on Form 
20-F for the year ended December 31, 2025 (in the following, the 
“Annual Report 2025”). See also the risks set out in the section 
titled “Forward-looking statements.”
This report has not been reviewed by Telefonaktiebolaget LM 
Ericsson auditors. 
Date for next report: October 15, 2026.

Ericsson  |  Second quarter report 2026. July 14, 2026.

Board assurance

13

Board assurance
The Board of Directors and the President and CEO certify that the financial report for the six months gives a fair view of the 
performance of the business, position and profit or loss of the Company and the Group and describes the principal risks and 
uncertainties that the Company and the companies in the Group face.
Stockholm, July 14, 2026
Telefonaktiebolaget LM Ericsson (publ)
Org. Nr. 556016-0680

Jan Carlson

Jacob Wallenberg

Jon Fredrik Baksaas

Chair

Deputy Chair

Member of the Board

Christian Cederholm

Börje Ekholm

Eric A. Elzvik

Member of the Board

President, CEO
 and member of the Board

Member of the Board

Marachel Knight

Kristin S. Rinne

Jonas Synnergren

Member of the Board

Member of the Board

Member of the Board

Christy Wyatt

Karl Åberg

Member of the Board

Member of the Board

Ulf Rosberg

Loredana Roslund

Annika Salomonsson

Member of the Board

Member of the Board

Member of the Board

Ericsson  |  Second quarter report 2026. July 14, 2026.

Editor's note

14

Editor’s note
Media and analyst briefing
Ericsson invites media, investors and analysts to a conference 
call and live video webcast at 09:00 AM CEST on July 14, 2026. 
Link to the webcast, dial-in to audio conference, supporting 
material and replay will be available at: 
www.ericsson.com/investors and
www.ericsson.com/newsroom
For further information, please contact:
Lars Sandström, Senior Vice President, Chief Financial Officer
Phone: +46 72 161 20 04
E-mail: [email protected]  
Peter Borsos, Vice President,
Head of Group Communications
Phone: +46 70 317 68 00
E-mail: [email protected]
Telefonaktiebolaget LM Ericsson
Org. number: 556016-0680
Torshamnsgatan 21
SE-164 83 Stockholm
Phone: +46 10 719 00 00
www.ericsson.com
Investors
Daniel Morris, Vice President,
Head of Investor Relations
Phone: +44 7386 657217
E-mail: [email protected] 
Lena Häggblom, Director,
Investor Relations
Phone: +46 72 593 27 78
E-mail: [email protected]
Alan Ganson, Director, 
Investor Relations
Phone: +46 70 267 27 30
E-mail: [email protected]
Media
Ralf Bagner, Head of Media Relations
Phone: +46 76 128 47 89
E-mail: [email protected]
Corporate Communications 
Phone: +46 10 719 69 92
E-mail: [email protected]

Ericsson  |  Second quarter report 2026. July 14, 2026.

Forward-looking statements

15

Forward-looking statements
This report includes forward-looking statements. All statements 
other than statements of historical fact are forward-looking 
statements. The words “believe,” “expect,” “foresee,” “anticipate,” 
“assume,” “intend,” “likely,” “projects,” “may,” “could,” “plan,” 
“estimate,” “forecast,” “will,” “should,” “would,” “predict,” “aim,” 
“ambition,” “seek,” “potential,” “target,” “might,” “continue,” or, in 
each case, their negative or variations, and similar words or 
expressions are used to identify forward-looking statements. 
These statements are subject to risks and uncertainties that 
could cause actual results to differ materially and adversely from 
those expressed in, or implied or projected by, the forward-
looking statements, including, in particular the following:
–Potential material additional liability resulting from past 
conduct, including allegations of past conduct that remains 
unresolved or unknown in multiple jurisdictions, including Iraq, 
which remains the subject of ongoing investigations by 
Ericsson and US governmental authorities
–Risks related to internal controls and governance, including 
the potential to incur material liability in connection with 
internal controls surrounding payments made to third parties in 
connection with past conduct in multiple jurisdictions, including 
Iraq, which remains the subject of ongoing investigations by 
Ericsson and US governmental authorities
–The risk that the ongoing investigations by Ericsson and US 
governmental authorities result in a conclusion by Ericsson or 
US governmental authorities that the Company’s past conduct 
included making or having responsibility for making payments 
to a terrorist organization or other improper payments, which 
could lead to material additional liability
–Risks related to the Company's ongoing compliance with 
obligations under the National Security Agreement entered 
into in connection with Ericsson’s acquisition of Vonage 
Holdings Corp. (Vonage), which may adversely affect the 
Vonage business and subject the Company to additional 
liabilities
–Ericsson's goals, strategies, planning assumptions and 
operational or financial performance expectations
–Macroeconomic conditions, including inflationary pressures 
and effects on customer investments, market recovery and 
growth
–Ongoing geopolitical and trade uncertainty, including 
challenging global economic conditions, market trends and the 
imposition of tariffs and sanctions
–Continued growth of mobile communications, the success of 
Ericsson's existing and targeted customer base, and 
Ericsson's ability to maintain technology leadership
–Success in implementing key strategies, including improving 
profitability, leading in 6G, capturing 5G market opportunities, 
capitalizing on network API and Enterprise opportunities, 
incorporation of AI technologies into certain products, services 
and processes and expected benefits from restructuring 
activities
–Risks related to cybersecurity and privacy, security and data 
localization
–Industry trends, future characteristics and development of the 
markets in which Ericsson operates
–Risks of global operations, including legal and regulatory 
requirements and uncertainties, and unfavorable lawsuits and 
legal proceedings
–Ericsson's future liquidity, capital resources, capital 
expenditures, cost savings and profitability, and risks related to 
financial condition
–The expected demand for Ericsson's existing and new 
products and services as well as plans to launch new products 
and services including research and development 
expenditures
–Ericsson's ability to deliver on future plans and achieve future 
growth
–The expected operational or financial performance of strategic 
cooperation activities and joint ventures
–Risks related to acquisitions and divestments that may be 
disruptive and incur significant expenses, including Ericsson's 
ability to successfully consummate such transactions, protect 
the value of acquisitions during integration, or achieve the 
value anticipated with an acquisition
–Trends related to Ericsson's industry, including Ericsson's 
regulatory environment, competition and customer structure
–Intense competition from existing competitors, and new 
entrants, including vendor consolidation
–Risks related to the supply chain and single-source or highly 
concentrated third-party suppliers
–Large, multi-year agreements with limited number of  key 
customers, and operator consolidation
–Risks related to intellectual property, key employees, and 
unforeseen risks and disruptions due to natural or man-made 
events
–Risks related to environmental, social, governance, diversity, 
equity and inclusion and business conduct
–Other factors included in Ericsson's filings with the US 
Securities and Exchange Commission (SEC), including the 
factors described throughout this report, included in the 
section Risk factors, and in “Risk Factors” in the Annual 
Report 2025, as updated by subsequent reports filed with the 
SEC. 
These forward-looking statements also represent Ericsson's  
estimates, assumptions and expectations only as of the date that 
they were made, and to the extent they represent third-party 
data,  Ericsson has not undertaken to independently verify such 
third-party data and does not intend to do so. Given these risks 
and uncertainties, readers are cautioned not to place undue 
reliance on such forward-looking statements and are urged to 
carefully review and consider the various disclosures made in 
this report and in other documents Ericsson files from time to 
time with Ericsson's regulators that disclose risks and 
uncertainties that may affect Ericsson's business. Ericsson 
expressly disclaims a duty to provide updates to these forward-
looking statements, and the estimates and assumptions 
associated with them, after the date of this report, to reflect 
events or changes in circumstances or changes in expectations 
or the occurrence of anticipated events, whether as a result of 
new information, future events or otherwise, except as required 
by applicable law or stock exchange regulations.

Ericsson  |  Second quarter report 2026. July 14, 2026.

Financial statements and other information

16

Financial 
statements 
and other 
information

Contents

Financial statements (unaudited)

17

Condensed consolidated income statement

17

Condensed statement of comprehensive income

17

Condensed consolidated balance sheet

18

Condensed consolidated statement of cash flows

19

Condensed consolidated statement of changes in equity

20

Condensed consolidated income statement – isolated quarters

20

Condens