On Wednesday, in a statement Ericsson reported that its core quarterly earnings have lifted thanks to higher margins across its businesses. It said it is “more confident” in meeting its 2020 revenue targets.
It third-quarter adjusted operating earnings rose to $1.0 billion (9.0 billion Swedish crowns) up from 6.5 billion crowns a year ago, beating the mean forecast of 6.98 billion crowns, according to Refinitiv estimates.
Ericsson’s gross margin, excluding restructuring charges, rose to 43.2% in the third quarter from 37.8% in the year-ago period.
The company’s 5G contract wins have touched 112 midst growing global awareness of cyber security threats emerging from China’s Huawei.
Its’s total revenue rose 1% to 57.5 billion crowns. “Covid-19 has so far had limited impact on our business, but we are closely monitoring any signs of a change in the situation,” said Ericsson’s CEO Borje Ekholm in a statement.