for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Ericsson Q3 core profit tops forecast, lifts 2020 sales target

STOCKHOLM, Oct 17 (Reuters) - Telecoms equipment maker Ericsson reported quarterly core earnings far ahead of market expectations on Thursday and lifted its 2020 sales target citing a stronger market and currency effects.

The Swedish firm, a rival of Finland’s Nokia and China’s Huawei, said it was now targeting sales of 230-240 billion Swedish crowns in 2020 up from 210-220 billion previously.

Adjusted third-quarter operating earnings at the mobile network gear maker rose to 6.5 billion crowns ($664.74 million)($) from 3.8 billion a year earlier, beating the 5.2 billion mean forecast seen in a Refinitiv poll. ($1 = 9.7783 Swedish crowns) (Reporting by Helena Soderpalm and Johannes Hellstrom; Editing by Simon Johnson)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up