"With current visibility, we maintain the group targets for 2020 and 2022."Total revenue rose 1% to 55.6 billion crowns.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. In this section; Network Products; Ericsson office in Kista, Sweden; Executive Team - Photos; Images of Ericsson's headquarters in Kista, Sweden. We want to hear from you.The company's second-quarter adjusted quarterly operating earnings rose to 4.5 billion Swedish crowns ($495.85 million) from 3.9 billion a year ago, beating the mean forecast of 3.36 billion crowns, according to a Refinitiv poll of analysts.Ericsson and Finland's Nokia were also expected to be the beneficiaries of Britain's decision this week to ban Chinese telecoms giant Huawei from next-generation 5G networks."Some customers are accelerating their investments while others are temporarily cautious," Chief Executive Officer Börje Ekholm said in a statement.
Sweden's Ericsson reported quarterly core earnings ahead of market estimates on Friday, buoyed by higher margins on the sale of telecom equipment, and said it … Sales in Ericsson’s mainstay network business grew 4% in the second quarter, mostly due to contract wins in China. Network Products. Ericsson President and CEO, Börje Ekholm: Once 5G infrastructure is established, the killer app will emerge Ericsson President and CEO, Börje Ekholm, spoke virtually at the recent 2020 GTI Summit about 5G network build out, quality and the opportunity with private networks. Ericsson is one of the world's leading information and communication technology companies. It won a share of 5G business - alongside Chinese giants Huawei and ZTE - from the country’s three largest telecom operators: China Mobile, China Telecom and China Unicom.“So far during these five months it (the pandemic) has been going on, we have coped well,” he said.The company’s shares were up 10% at 0818 GMTEricsson has a 2020 group sales target of 230-240 billion Swedish crowns ($25.3-26.4 billion), and an adjusted operating margin goal of more than 10%; for 2022 it has an adjusted operating margin goal of 12-14%.Reporting by Helena Soderpalm and Supantha Mukherjee; Editing by Rashmi Aich and Pravin CharThe group’s gross margin rose to 38.2% in the second quarter from 36.7% in the year-ago period.While the company is keeping its forecast for 2020 and 2022, its digital services business is likely to miss its target this year, Ekholm said.The company’s adjusted quarterly operating earnings rose 18% to 4.5 billion Swedish crowns, beating a mean forecast of 3.36 billion crowns in Refinitiv poll of analysts.“On paper (the UK ban) should be a tremendous opportunity for Ericsson, particularly if there is contagion to other markets,” Ben Wood, chief analyst at CCS Insight, told Reuters.There has been an increasing network build-up in China, Europe and North America, but some operators in Latin America and Africa have been more cautious, Ericsson’s Chief Financial Officer Carl Mellander told Reuters.The digital services unit, which includes cloud-based services, saw a hit to sales due to the pandemic.