Styrkir gengu menn und merkjum
málma lunds á víðri grundu
— valgammr sleit at vápna móti
varma bráð — af þínu ráði.
Sjálfri skipti örn við úlfa
ógnarbáru höfuðsára
(gyldir stóð yfir greypra hölda
grimrar þjóðar (meginblóði).
Styrkir menn gengu und merkjum lunds málma á víðri grundu af ráði þínu; valgammr sleit varma bráð at móti vápna. Örn skipti við úlfa sjálfri ógnarbáru höfuðsára grimrar þjóðar; gyldir stóð yfir meginblóði greypra hölda.
Strong men marched beneath the banners of the tree of weapons [WARRIOR = Hákon] on the wide plain according to your plan; the corpse-vulture [RAVEN/EAGLE] tore the warm flesh at the meeting of weapons [BATTLE]. The eagle shared with the wolves the very battle-wave [BLOOD] from the head-wounds of the fierce people; the wolf stood over the life-blood of cruel warriors.
[4] af ráði þínu ‘according to your plan’: Finnur Jónsson and Kock (Skj; Skald) chose the reading of E, Flat at ráði þínu ‘at your advice’, but Konráð Gíslason (1895-7, I, 73) preferred the reading of F, 81a and 304ˣ, af. At in E and Flat could have been caused by at in the previous l.