Ericsson Q4 profit growth beats forecast on 5G boost

Ericsson Q4 core profit growth beats forecast on 5G boost

Credit: Reuters file photo.

Sweden's Ericsson on Friday reported fourth-quarter core earnings ahead of market estimates on the back of strong sales of 5G equipment and it continued to benefit from the ban of China's Huawei from networks in several countries.

The company's quarterly adjusted operating earnings rose to 11 billion Swedish crowns ($1.32 billion) from 6.5 billion a year ago, beating the mean forecast of 8.58 billion crowns, according to Refinitiv estimates.