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ERIC Telefonaktiebolaget LM Ericsson News Story

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Ericsson beats quarterly core profit estimates despite sales slip

Oct 14 (Reuters) - Swedish telecoms gear maker Ericsson ERICb.ST reported a rise in quarterly core earnings that beat expectations on Tuesday, as operational improvements drove gross margins to sustainable levels despite a decline in sales.

Adjusted earnings before interest and taxes (EBIT) excluding restructuring charges were 15.4 billion Swedish crowns ($1.62 billion) in the quarter ended in September.

That was 9.2% higher than the 14.1 billion crowns forecast in an Infront consensus poll of analysts provided by the company.

($1 = 9.4988 Swedish crowns)

 (Reporting by Gianluca Lo Nostro and Agnieszka Olenska; Editing by Matt Scuffham)

 ((gianluca.lonostro@thomsonreuters.com; agnieszka.olenska@thomsonreuters.com))

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