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Ericsson Q4 core profit growth beats forecast on 5G boost

STOCKHOLM, Jan 29 (Reuters) - 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. ($1 = 8.3643 Swedish crowns) (Reporting by Supantha Mukherjee in Stockholm; editing by Johannes Hellstrom)

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