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Ericsson operating profit rises but misses forecasts

  • Ericsson's (ERIC) Q3 EBIT rose to 4.2B kronors ($658M) from 3.1B kronors a year earlier but missed consensus of 4.5B.
  • Net profit +34% to 2.92B kronors, with a better business mix strengthening margins.
  • Revenues -3% to 52.98B kronors vs forecasts of 55.1B kornors; sales were hurt by forex fluctuations as well as by reduced activity in Japan and two large maturing projects in the U.S.
  • Ericsson CEO Hans Vestberg says the macroeconomic environment has stabilized in many regions, while the "long-term fundamentals in the industry remain attractive." However, "uncertainty still remains in certain parts of the world," Vestberg adds. (PR)
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