STOCKHOLM :Sweden's Ericsson on Tuesday reported fourth-quarter core earnings above market estimates, helped by higher sales of telecoms gear as more countries roll out 5G networks, offsetting a loss of market share in mainland China.
"We have seen North America continue to grow very strongly and we grew there by 16per cent in the quarter in constant currency," Chief Financial Officer Carl Mellander said. The company's quarterly adjusted operating earnings rose to 11.9 billion Swedish crowns from 11 billion a year ago, beating the mean forecast of 10.30 billion, according to Refinitiv data.While Ericsson's total quarterly revenue rose 2per cent to 71.3 billion crowns, beating estimates of 68.33 billion crowns, sales in mainland China declined by 1.8 billion crowns.
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