Benzinga | Jul 17, 2020 11:04AM EDT

Why Ericsson's Stock Is Trading Higher Today

Ericsson (NASDAQ:ERIC) shares are trading higher on Friday after the company reported better-than-expected second-quarter EPS and sales results.

Ericsson is leading supplier within the telecommunications equipment sector. The company's three major operating segments are networks, digital services, and managed services. Ericsson sells hardware, software, and services primarily to communication service providers while licensing patents to handset manufacturers.

Ericsson shares were trading up 12.94% at $10.86 during the time of publication on Friday. The stock has a 52-week high of $10.99 and a 52-week low of $6.15.