Víst hafði lið lestir
linns þrimr hlutum minna
heiptar mildr at hjaldri
— harðr fundr vas sá — grundar.
Þó réð hann at hvôru
(hǫnum tjóði vel móður)
(hôr feksk af því) (hlýri)
(hagnaðr) ór styr gagni.
Víst hafði heiptar mildr lestir linns grundar þrimr hlutum minna lið at hjaldri; sá fundr vas harðr. Þó at hvôru réð hann gagni ór styr; af því feksk hôr hagnaðr; hlýri móður tjóði hǫnum vel.
Clearly the strife-generous damager of the snake’s land [GOLD > GENEROUS MAN = Gutthormr] had three times fewer men at the battle; that meeting was hard. Yet notwithstanding he won victory in the battle; great advantage was gained from that; the brother of [his] mother [= Óláfr] helped him well.