Ericsson thanks 5G sales for a great than expected Q3

That was led by early 5G sales in North America and 4G upgrades in Europe and Latin America, and helped to drive its shares 5% higher in early Thursday trading. However, finance chief Carl Mellander told Reuters that, as a result of this strong performance, fourth quarter sales growth would be “a few percentage points lower” than typical 17-18% growth versus the third quarter, adding North American network sales would be roughly flat quarter-on-quarter. STOCKHOLM (Reuters) – Mobile telecom equipment maker Ericsson beat third-quarter operating profit forecasts on Thursday, boosted by sales of next-generation 5G gear in North America, and said it was making solid progress towards its long-term financial goals. Net sales in North America, Ericsson’s biggest regional market, rose 10 percent in currency-adjusted terms, while Europe rose 4 percent, offsetting weakness in its Middle East and North Asian markets. Chief executive Borje Ekholm said he was confident Ericsson could produce an operating margin of at least 12% beyond 2020.