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Ericsson earnings up 12%

Swedish kit maker Ericsson recorded a 12 per cent increase in net earnings during the second quarter of the year, taking its profit to SEK6.4bn (US$964m).

Sales for the quarter increased to SEK47.6bn, up from SEK44.8bn in the same period last year.

Revenues at the vendor’s networks division increased 7 per cent year on year to SEK33.7bn, while professional services revenues stood at SEK10.3bn, up 11 per cent.

Earlier this week, Ericsson won itself a $2bn mega deal on Wednesday, after being tapped by Indian operator Bharti Airtel in a network expansion contract.

Under the two year supply and services contract, Ericsson will design, plan, deploy, optimise and manage Bharti’s GSM network across 15 circles in India as well as for its pan-India prepaid platform across 23 circles.

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