Ericsson beats market expectations with third-quarter profit

Ericsson reported adjusted operating profit of 10.1 billion kronor for the third quarter, beating market expectations, SVT reported.

The telecom equipment maker’s earnings before interest and tax, excluding certain items, compared with analysts’ forecast of 7.9 billion kronor.

“We delivered a strong result for the third quarter. The result is based on good business development, the strength of our portfolio and customers’ confidence in Ericsson,” said CEO Per Narvinger.