Swedish telecommunications equipment maker Ericsson's second quarter profits have smashed market forecasts.
Ericsson posted net profit of €576m in the period, compared with a loss of nearly €300m in the same period in 2003. Pre-tax profits were well above expectations at €852m. Second quarter sales were up nearly 20%.
The company reiterated its outlook, given in the first quarter, for moderate growth in the systems market this year.
The company said it also maintained its view that the market for professional services would continue to show good growth this year.
