Stockmarket

Ericsson profit beats as more countries roll out 5G


STOCKHOLM (Reuters) – Sweden’s Ericsson (BS:) on Tuesday reported fourth-quarter core earnings above market estimates, helped by higher sales of telecom gear as more countries roll out 5G networks offsetting a loss of market share in mainland China.

The company’s quarterly adjusted operating earnings rose to 11.9 billion Swedish crowns ($1.28 billion) from 11 billion a year ago, beating the mean forecast of 10.30 billion, according to Refinitiv data.

($1 = 9.2836 Swedish crowns)

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