Ericsson posts third-quarter operating profit above expectations

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)