Sweden’s Ericsson on Wednesday reported quarterly core earnings ahead of market estimates, helped by a lift in margins across its businesses, and said it was “more confident” in meeting its 2020 targets.
The company’s third-quarter adjusted operating earnings rose to 9.0 billion Swedish crowns ($1 billion) from 6.5 billion a year ago, beating the mean forecast of 6.98 billion crowns, according to Refinitiv estimates.
The group’s gross margin, excluding restructuring charges, rose to 43.2% in the third quarter from 37.8% in the year-ago period.
Ericsson’s 5G contract wins have touched 112 as more telecom operators are rolling out the next-generation network and diplomatic pressure from the U.S. is pushing out China’s Huawei from more countries.
Total revenue rose 1% to 57.5 billion crowns.
“Covid-19 has so far had limited impact on our business, but we are closely monitoring any signs of a change in the situation,” Chief Executive Borje Ekholm said in a statement. $1 = 8.7165 Swedish crowns.
Follow us on:
Americans are headed to the polls to choose the next president in a tightly contested…
An Abuja court has struck out the case against #EndBadGovernance protesters as the AGF discontinued…
The UK has confirmed two more cases of the new mpox variant, clade Ib
Ekiti mourns as Chief Judge Justice Adeyeye dies, succumbing to injuries from a court building…
Boeing workers have accepted a new contract with a 38% raise, ending a seven-week strike…
Eight individuals are on trial in Paris, accused of inciting the murder of teacher Samuel…