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Ericsson posts third-quarter operating profit above expectations

Ericsson posts third-quarter operating profit above expectations
FILE PHOTO: The Ericsson logo is seen at the Ericsson's headquarters in Stockholm, Sweden June 14, 2018. REUTERS/Olof Swahnberg   -   Copyright  Reuters Staff(Reuters)
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STOCKHOLM (Reuters) – Mobile telecom equipment maker Ericsson <ERICb.ST> 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 (£272 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.($1 = 8.9772 Swedish crowns)

(Reporting by Helena Soderpalm and Olof Swahnberg)

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