Ericsson third-quarter operating profit lags forecasts

Reuters News
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Posted: Oct 23, 2015 1:52 AM

STOCKHOLM (Reuters) - Swedish mobile telecom equipment maker Ericsson posted third-quarter sales and operating profit below market expectations on Friday, weighed down by its key networks unit.

Operating profit was 5.1 billion Swedish crowns (392 million pounds) compared to 3.9 billion in the year-ago quarter and below a mean forecast of 5.4 billion crowns in a Reuters poll of analysts.

Sales at Ericsson, the world number one mobile network equipment maker, were 59.2 billion crowns, below a forecast of 60.9 billion. The gross margin was 33.9 percent against a mean forecast of 34.9 percent.

(Reporting by Sven Nordenstam and Olof Swahnberg; Editing by Alistair Scrutton)