Ericsson Q3 Profit Climbs On Higher Sales 

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The FINANCIAL — Ericsson reported on October 23 net income of 3.1 billion Swedish Kronor, 19 percent higher than last year’s 2.6 billion kronor. Earnings per share grew 16 percent to 0.94 krona from 0.81 krona last year, according to Nasdaq.

Earnings per share on non-IFRS basis was 1.34 kronor, compared to 1.11 kronor a yea ago.

Net sales increased 3 percent to 59.2 billion kronor from 57.6 billion kronor last year. Sales, adjusted for comparable units and currency, decreased 9% due to lower sales in Networks. This was partly offset by sales growth in Professional Services.

The mobile broadband business in North America was at a lower level compared to the same period last year.

Gross margin declined to 33.9% from 35.2%.

 

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