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Ericsson first-quarter operating profit beats forecast

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By Reuters
Ericsson first-quarter operating profit beats forecast
FILE PHOTO: The Ericsson logo is seen at the Ericsson's headquarters in Stockholm, Sweden June 14, 2018. Picture taken June 14, 2018. REUTERS/Olof Swahnberg/File Photo   -   Copyright  Olof Swahnberg(Reuters)

STOCKHOLM (Reuters) – Mobile telecom equipment maker Ericsson reported on Wednesday a bigger that expected rise in first-quarter operating earnings and said it saw strong growth in North America as it raised its outlook for the global networks market.

The Swedish firm posted an operating profit of 4.9 billion Swedish crowns (£406.4 million), against a 312 million loss a year ago, easily topping the mean forecast for a 2.8 billion profit seen in a Reuters poll of analysts.

(Reporting by Helena Soderpalm and Johannes Hellstrom; editing by Niklas Pollard)