Mobile telecom equipment maker Ericsson 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 toward hitting its 2020 financial goals, the Swedish firm posted an operating profit of 0.2 billion crowns ($22.6 million), 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. ($1 = 8.8602 Swedish crowns) (Reporting by Olof Swahnberg and Helena Soderpalm, editing by Anna Ringstrom)