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Ericsson posts surprise profit in second quarter

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Ericsson posts surprise profit in second quarter

Ericsson posts surprise profit in second quarter
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STOCKHOLM (Reuters) - Mobile telecom equipment maker Ericsson <ERICb.ST> reported on Wednesday an unexpected swing to a second-quarter operating profit and said it was confident in reaching its long-term targets.

Marking its second consecutive quarter of substantial progress towards hitting its 2020 financial goals, the Swedish firm posted an operating profit of 0.2 billion crowns, compared to a 0.5 billion loss a year earlier and a mean forecast for a 0.1 billion loss seen in a Reuters poll of analysts.

(Reporting by Olof Swahnberg and Helena Soderpalm, editing by Anna Ringstrom)

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