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UPDATE: Nokia (NOK) Posts Q3 EPS of EUR 9c

October 23, 2014 5:59 AM EDT
(Updated - October 23, 2014 11:13 AM EDT)

Nokia (NYSE: NOK) reported Q3 EPS of EUR0.09, versus analyst estimate of EUR0.07. Revenue for the quarter came in at EUR3.3 billion versus the consensus estimate of EUR4 billion.

Nokia Networks

- Nokia Networks achieved 13% year-on-year growth in net sales, from EUR 2.6 billion in Q3 2013 to EUR 2.9 billion in Q3 2014. - In Q3 2014, Nokia Networks achieved strong underlying operating profitability with non-IFRS operating profit of EUR 397 million, or 13.5% of net sales, compared to EUR 217 million, or 8.4% of net sales, in Q3 2013. - The strong net sales and profitability improvement of Nokia Networks on a year-on-year basis was primarily due to major new LTE network deployments in North America and Greater China, which benefitted Mobile Broadband.

HERE

- HERE achieved 12% year-on-year growth in net sales, from EUR 211 million in Q3 2013 to EUR 236 million in Q3 2014. - In Q3 2014, HERE sold map data licenses for the embedded navigation systems of 3.2 million new vehicles globally, compared to 2.6 million vehicles in Q3 2013.

Nokia Technologies

- Nokia Technologies achieved 9% year-on-year growth in net sales, from EUR 140 million in Q3 2013 to EUR 152 million in Q3 2014, primarily due to Microsoft becoming a more significant intellectual property licensee.

For earnings history and earnings-related data on Nokia (NOK) click here.



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