Ericsson shares jump 9% after third-quarter results beat estimates

Shares of Swedish telecom firm Ericsson jumped 9% amid third-quarter core earnings that surpassed analyst expectations and growth in North American demand.

The company on Tuesday declared adjusted third-quarter earnings, excluding impairments, of 7.327 billion Swedish crowns ($0.7 billion), compared with 3.9 billion Swedish crowns in the same period of last year and exceeding the 5.75 billion crown mean forecast of analysts cited by Reuters.

Net sales shed 4% year-on-year to 61.8 billion Swedish crowns in the third quarter, but nevertheless surpassed analyst expectations of near 61.6 billion, according to Reuters estimates.

This breaking news story is being updated.