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Ericsson Q3 net income 5.6 billion Swedish kronor

Christian Fernsby ▼ | October 21, 2020
Ericsson reported that its third quarter net income was 5.6 billion Swedish kronor, compared to last year's loss of 6.9 billion kronor.
Ericsson
Ericsson   The prior year's results were hurt by cost provisions
The prior year's results were hurt by cost provisions of 11.5 billion kronor related to the investigation by the United States Securities and Exchange Commission and the United States Department of Justice as well as a refund of social security costs of 0.9 billion kronor.

Topics: Ericsson

Gross margin excluding restructuring charges improved to 43.2 percent from last year's 37.8 percent.

Net sales were 57.5 billion kronor, higher than last year's 57.1 billion kronor.

Sales adjusted for comparable units and currency increased 7 percent mainly driven by 5G sales in Mainland China.


 

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