Telecoms equipment maker Ericsson posted quarterly earnings in line with forecas...
) posted quarterly earnings in line with forecasts but said it expected costs related to winning new contracts for its network business to hit profit margins in the second half of the year.
Instead, Ericsson said it was on track to meet its financial targets for 2020 and 2022 due to strong demand for 5G equipment. Some analysts think Ericsson could benefit from current turmoil surrounding market leader China’s Huawei but the firm’s chief financial officer said he had not yet seen any impact.
Ericsson said the strategic contracts would boost margins in the long run but would hurt profitability in the near term.
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