Ericsson third-quarter core profit tops forecast, lifts 2020 sales target

STOCKHOLM (Reuters) – Telecoms equipment maker Ericsson (ST:) 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 (HE:) 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.

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