Ericsson Q3 core profit beats forecasts as margins rise

“While the pandemic has hurt revenues for several of our customers, and in some cases this has led to a reduction of capex, we have not seen any negative impact on our business, largely due to footprint gains, ” chief executive Borje Ekholm said

STOCKHOLM: Sweden’s Ericsson on Wednesday reported quarterly core earnings that beat market estimates, helped by higher margins and China’s 5G rollout, and said it was “more confident” in meeting its 2020 targets.

Ericsson’s 5G contract wins have touched 112 as more telecom operators are building next-generation networks and as diplomatic pressure from the United States is pushing out market leader Huawei from more countries.