October 18, 2018 / 5:41 AM / a month ago

Ericsson posts Q3 operating profit above expectations

STOCKHOLM, Oct 18 (Reuters) - Mobile telecom equipment maker Ericsson reported on Thursday a substantially higher third-quarter operating profit than expected and said it was tracking well towards its long-term targets.

Marking its third consecutive quarter of substantial progress toward hitting its 2020 financial goals, the Swedish firm posted an operating profit of 3.2 billion crowns ($356.5 million), against a 3.7 billion loss a year earlier and a mean forecast for a 0.8 billion profit seen in a Reuters poll of analysts. ($1 = 8.9772 Swedish crowns) (Reporting by Helena Soderpalm and Olof Swahnberg)

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