Ericsson Quarterly Profits Ahead of Forecasts
Wireless equipment maker Ericsson reports that its third-quarter earnings grew 22 percent as telecom operators worldwide continued to upgrade and expand their networks.
This puts them slightly ahead of forecasts, but Ericsson warns that the world systems market will only show moderate growth this year and next.
The Swedish company booked a net profit of 5.3 billion kronor (US$673 million) for the three months to September, up from 4.3 billion the same period a year earlier. Pretax profit was 8.0 billion kronor, compared with financial market expectations of 7.9 billion, and a 6.4 billion profit a year earlier.