By Michael Dabaie

ADRs of Swedish telecommunications equipment company Ericsson AB (ERIC) rose 5.4% to $9.08 in heavy volume late Thursday morning.

The company said its third-quarter net sales were 57.1 billion Swedish kronor ($5.9 billion), up 6% from SEK53.8 billion a year earlier.

Ericsson raised its sales target for 2020 to SEK230 billion to SEK240 billion, from the previous target of SEK210 billion to SEK220 billion.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

October 17, 2019 11:58 ET (15:58 GMT)

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