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Ericsson Turns To Profit In Q2 On Strong Sales - Quick Facts

Swedish networking and telecom company Ericsson (ERIC) reported Wednesday that its second-quarter net income was 1.8 billion Swedish kronor, compared to prior year's net loss of 1.8 billion kronor.

Earnings per share were 0.51 krona, compared to loss of 0.58 krona a year ago. Adjusted earnings per share were 0.59 krona, compared to loss of 0.09 krona last year.

Operating income surged to 3.7 billion kronor from last year's 0.2 billion kronor. Operating margin was 6.8 percent, up from 0.3 percent in the prior year.

Adjusted operating income climbed to 3.9 billion kronor from 2 billion kronor last year, and operating margin grew to 7.0 percent from 4.1 percent a year ago.

Sales were 54.8 billion kronor, 10 percent higher than 49.8 billion kronor last year. Sales adjusted for comparable units and currency increased 7 percent driven by growth in Networks in North America and North East Asia.

Börje Ekholm, President and CEO, said, "Continued technology and market investments, especially in 5G, automation and AI, are fundamental for long-term competitiveness and a key part of our focused strategy to strengthen our long-term business and path to reaching our targets for 2020 and 2022."

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