Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Q3 2023 Results Conference Call October 17, 2023 3:00 AM ET

Company Participants

Peter Nyquist - VP & Head, IR

Borje Ekholm - President, CEO & Director

Carl Mellander - SVP, CFO and Head, Group Function Finance & Common Functions

Conference Call Participants

Aleksander Peterc - Societe Generale

Joachim Gunell - DnB

Francois Bouvignies - UBS

Daniel Djurberg - Handelsbanken

Erik Lindholm-Röjestål - SEB

Andreas Joelsson - Danske Bank

Janardan Menon - Jefferies

Sandeep Deshpande - JPMorgan

Sebastien Sztabowicz - Kepler Chevreux

Peter Nyquist

Hello, everyone, and welcome today's Ericsson's Third Quarter 2023 Results. With me today I have here Nyquist; our CFO, Carl Mellander; and direct from New York, I have our CEO, Borje Ekholm.

Last week, Thursday, we preannounced our Q3 numbers as we announced impairment of goodwill attributed to our acquisition of Vonage. Today however, we will not only give you more details around the Q3 report and expectations going forward, we will actually also spend some time talking about our GMP strategy. So we'll start with Borje summarizing Q3and then we'll talk more about the GMP strategy and then call will return back and give more details around the Q3 result and expectations going forward.

As usual, we will end the presentation with a Q&A session. And in order to ask those questions, you need to join the conference by telephone. Details can be found at today's press release or at our website, ericsson.com/investors. Please be advised that today's conference is being recorded.

But before handing over to Borje and Carl, I would like to say the following. During today's presentation, we will be making forward-looking statements. These statements are based on our current expectations and certain planning assumptions, which are subject to risk and uncertainties.

The actual results may differ material due to factors mentioned in today's press release and discussed in this conference call. We encourage you all to read about these risk and uncertainties in the earnings report as well as in the annual report.

With that said, I would like to hand over the word to Borje. So please, Borje.

Borje Ekholm

Thanks Peter. First of all, welcome to our report presentation for the third quarter and thanks everyone for joining us. As Peter mentioned, we will spend some more time now on GMP and this presentation. But the first, let me hit on some key takeaways. So Q3 was in line with our previously indicated expectations, with a bit soft, the top-line in North America than we expected, but we bet the margins in the rest of the business.