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Shares of Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) surged by 20.6% on Tuesday, bucking a broader market decline, as the company reported a strong Q3 performance despite a 9% drop in sales to 56.2 billion Swedish kronor; earnings per share nearly tripled to 3.33 kronor, surpassing analyst expectations and earning praise from Swedish media as “guldkantad.”
