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Ericsson makes right connection on profit target

Jul 18, 2019 - City A.M.
Financial Results

ERICSSON has posted second-quarter profit in line with expectations and said it was on track for the full year as it looks to expand its 5G rollout.

The Swedish telecoms firm posted a 10 per cent rise in net sales to 54.8bn Swedish kronor (£4.7bn), while operating profit grew to 3.7bn kronor, up from 0.2bn the year before.

Ericsson, which is one of the main suppliers of equipment for 5G alongside Huawei and Nokia, said it expects to meet its targets for 2020.

Some analysts had...