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Ericsson Q3 operating profit jumps

Ericsson
Ericsson   "We continue to execute on our focused strategy"

Ericsson reported stronger-than-expected third-quarter sales figures Thursday, boosted primarily by high activity levels in North America.


In posting its third consecutive quarter of progress toward reaching its 2020 financial targets, the company saw its net sales jump by 9 percent year-on-year and 8 percent since the last quarter.

"We continue to execute on our focused strategy, tracking well towards our 2020 targets," Borje Ekholm, president and CEO of Ericsson, said in a statement.

The mobile telecom provider posted an operating profit of 3.2 billion crowns ($356.5 million) as compared to a loss of 3.7 billion crowns in the third quarter of 2017.

"There is strong momentum in the global 5G market with lead markets moving forward … More work remains, however, to get all parts of the business to a satisfactory performance level. We remain confident in reaching our long-term target of at least 12 percent operating margin beyond 2020."

 

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