Profit surges at Swedish telecom Ericsson in second quarter

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DPA

Swedish telecommunications giant Telefonaktiebolaget LM Ericsson, or Ericsson, announced a surged in profits in the second quarter on Thursday. Ericsson (ERIC) posted the result amidst continued strong business momentum during the period. For the quarter ended in June, the company posted a net income of 4.7 billion Swedish kronor ($443 million) or 1.35 kronor per share, compared with 3.9 billion kronor or 1.10 kronor per share posted a year ago. Earnings before interest and taxes (EBIT) was at 7.3 billion kronor as against 5.8 billion kronor, year-over-year basis. EBIT excluding restructuring …

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