Ericsson net income down, but sales up

Swedish vendor Ericsson reported third-quarter net income of $378 million, and, although that was a 28 percent decrease from the same quarter last year, the figure still beat analysts' estimates. Furthermore, the vendor's sales rose by 13 percent, primarily on sharp jumps in revenue from North America and India.

Ericsson CEO Carl-Henric Svanberg said the company was not harshly affected by macro-economic pressure during the third quarter, but he added that the company still is planning for a relatively flat market in the future. The earnings drop for the quarter was driven partly by restructuring charges.

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