I actually don't know the exact answer but I have gotten speeds upto 3mbps in LTE cities. And I use the hotspot a lot when I'm traveling for conferences so there has never been a point where I have to wait for something to load like on youtube. Most of the times everything loads pretty quickly and even when I am torrenting the speeds are not bad at all.

I don't know which one too go by because speedtest says something different but the app on Nokia N9 says something different. I would just advice try to download a file on utorrent and see it for yourself.