Ericsson profit beats expectations on 5G demand despite China setback

Sweden's Ericsson reported third-quarter core earnings above market estimates on Tuesday, as strong sales of 5G equipment in most of the world offset a loss of market share in mainland China.

The company's quarterly adjusted operating earnings rose to 8.8 billion Swedish crowns ($1.02 billion) from 8.6 billion a year ago, beating the mean forecast of 7.85 billion, according to Refinitiv estimates.

While both Ericsson and its rival