Ericsson (ERIC): Q2 net profit +32% to 1.47B ($220M) kronor, including 900M in restructuring...

|By:, SA News Editor

Ericsson (ERIC): Q2 net profit +32% to 1.47B ($220M) kronor, including 900M in restructuring charges this year vs 600M last year. EBIT +19% to 2.5B kronor, well below consensus of 4.3B kronor. Sales little changed at 55.3B kronor vs predictions of 56B kronor. Gross margin 32.4% vs 33.1%. Network sales +1% to 28.1B kronor, with gains in the Americas, and western and central Europe, but declines in northeastern Asia. Support solutions sales -33%. Headwinds include the economic situation in Europe and Middle Eastern instability, but "the long-term fundamentals in the industry remain attractive," says CEO Hans Vestberg. (PR)