Technology
Ericsson beats forecasts as organic sales grow seven percent
Ericsson reported third-quarter net sales of SEK 59.5 billion, up six percent year on year and 13 percent on the prior quarter, with organic growth of seven percent driven mainly by its Networks business. Adjusted EBITA was SEK 10.1 billion, beating analysts' expectations, and the company said operating expenses fell as portfolio optimisation and pricing measures offset higher component costs. Reported EBITA dropped 41 percent from a year earlier that included a SEK 7.6 billion capital gain, though shares rose sharply in Stockholm on the results.