Ericsson Shares Drop Post Q1 Results; Acknowledges DOJ Penalty, Russia Business Suspension

Swedish provider of telecommunications equipment and data communication systems giant Ericsson logo at the Ericsson headquarters in Stockholm's suburb of Kista, on Nov. 7, 2012. Jonathan Nackstrand/AFP via Getty Images

Telefonaktiebolaget L M Ericsson reported a first-quarter FY22 sales growth of 11 percent year-on-year to SEK 55.1 billion.

Group organic sales grew by 3 percent Y/Y, driven by Networks in North America, Europe, and Latin America.