Ericsson CEO Carl-Henric Svanberg presents the third quarter report

Ericsson Report Lifts Market

Ericsson, the world leader in mobile phone equipment, surprised markets Monday with an early and strong third quarter earnings report.

While net profit fell 28 percent during the period, this was better than expected, and sent the company’s shares up 16 percent.

Thanks to the Ericsson boost, along with a rise in telecommunications and banking stocks after the government’s stability package was presented, Stockholm’s OMXS index rose almost 4 percent on Monday.

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