Ericsson Q3 Profit Surges 34%
Ericsson (NASDAQ: ERIC) reported a 34% rise in its third-quarter net profit.
Ericsson's quarterly net profit surged to 2.92 billion Swedish kronor ($460 million), while operating profit rose to SEK4.23 billion from SEK3.10 billion. However, analysts were expecting a net profit of SEK3.21 billion.
Its gross margin widened to 32% from 30.4%. Its revenue declined to SEK53.0 billion from SEK54.6 billion.
Ericsson shares closed at $13.06 yesterday.
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