Mobile telecom equipment maker Ericsson reported on Thursday a substantially higher third-quarter operating profit than expected and said it was tracking well towards its long-term targets.
Marking its third consecutive quarter of substantial progress toward hitting its 2020 financial goals, the Swedish firm posted an operating profit of 3.2 billion crowns ($356.5 million), against a 3.7 billion loss a year earlier and a mean forecast for a 0.8 billion profit seen in a Reuters poll of analysts.