Ericsson posts Q2 profit as per expectations, says on track for 2020 targets

STOCKHOLM: Mobile network gear maker Ericsson posted a second-quarter profit in line with expectations on Wednesday and said it was on track to meet its financial goals due to strong sales of 5G equipment.
Some analysts had expected the company to upgrade its 2020 targets after showing steady profitability improvements in 2018 and 2019 on rising 5G demands following a period of falling spending by operators.
The company, which counts China’s Huawei and Finland’s Nokia as its main rivals, has pledged to deliver an operating margin, excluding restructuring costs, of over 10 percent in 2020.