Swedish telecom equipment maker Ericsson reported on Tuesday a rise in core earnings that beat expectations helped by a rebound in demand for 5G gear in North America.

Ericsson shares rallied on Tuesday as the Swedish telecom equipment maker said the market is stabilizing as North America returns to growth.

Shares of Swedish telecom firm Ericsson jumped 9% amid third-quarter core earnings that surpassed analyst expectations and growth North American demand.

Sweden's Ericsson on Tuesday said the telecom equipment market is showing signs of improvement after reporting core earnings and sales above expectations, helped by a rebound in demand for 5G gear in North America.

Shares of Ericsson (ERIC) have hit a two-year high after the company reported upbeat third quarter results and saw sales in North America grow 55% year over year. Market Domination Hosts Julie Hyman and Josh Lipton report more on the movement and dig into the company's earnings.