Cuts help Ericsson to a profit

Mobile phone firm Ericsson reported a fourth straight quarterly profit, helped by cost cuts and equipment demand. The stock fell as much as 8.4% as orders slowed.

Third-quarter net income reached 4.8 billion kronor, or 0.30 krona a share, compared with a net loss of 3.9 billion kronor, or 0.25 kronor, a year earlier.