Ericsson Q3 tops forecasts, but parts still short

Ericsson, the world's biggest mobile network gear maker, posted higher-than-expected third-quarter core profit on Friday, but said that component shortages continued to hurt sales.

Operating income excluding joint ventures was 6.2 billion Swedish crowns ($931million) easily beating a forecast of 5.5 billion in a poll and 5.5 billion a year ago. Ericsson's gross and operating margins came in higher than expected.

Sales were 47.5 billion crowns against a forecast 48.5 billion with sales at the key networks unit in line with forecasts at 26.1 billion crowns.