Home Business Nokia earnings in line with expectations, confirms full-year guidance

Nokia earnings in line with expectations, confirms full-year guidance

398
0

 

Telecom network equipment maker Nokia reported quarterly results in line with market expectations Thursday.

The Finnish company posted 5.5 billion euros ($6.27 billion) in net sales for the three-month period ending Sept 30. Analysts polled by Reuters had been expecting third-quarter net sales to come in at around 5.4 billion euros.

Litmus test

Earlier this year, the company said investors could expect to see a recovery in the third quarter following a relatively weak start to 2018.

Nokia has struggled with deteriorating growth since the current generation of 4G mobile equipment peaked in 2015.

It comes as the company faces a flurry of headwinds at present, including falling spending among telecom operators and stiff competition from the likes of Huawei and Ericsson.

Nonetheless, shares of Nokia are up more than 17 percent year-to-date, as investors remain hopeful of a new network spending cycle — driven primarily by rising demand for new 5G networks.

5G has become somewhat of a litmus test for technology leadership amid America’s intensifying stand-off with China over trade and national security.

 

 SOURCE: CNBC.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here