Sandvik Posts Better-Than-Expected Q2 Profit

Sandvik AB SDVKY reported a surge in its second-quarter net profit. Sandvik's quarterly net profit climbed to SEK2.78 billion, versus SEK2.11 billion, in the year-ago period. However, analysts were expecting a net profit of SEK2.51 billion. Its revenue gained to SEK25.94 billion from SEK23.42 billion, versus analysts' estimates of SEK25.24 billion. EBIT climbed to SEK4.21 billion from SEK3.56 billion, versus analysts' estimates of SEK4.01 billion. Sandvik's operating margin increased to 16.2% from 15.2%. Sandvik shares closed at $12.58 yesterday.