Ericsson beats quarterly core profit estimates despite sales slip

Swedish telecoms gear maker Ericsson ERIC_A reported a rise in quarterly core earnings that beat expectations on Tuesday, as operational improvements drove gross margins to sustainable levels despite a decline in sales.

Adjusted earnings before interest and taxes (EBIT) excluding restructuring charges were 15.4 billion Swedish crowns ($1.62 billion) in the quarter ended in September.

That was 9.2% higher than the 14.1 billion crowns forecast in an Infront consensus poll of analysts provided by the company.

($1 = 9.4988 Swedish crowns)