Nokia Corp. (NOK) Posts Break-Even Q2 Loss; 7.4M Lumia Handsets Shipped
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Nokia Corp. (NYSE: NOK) reported Q2 non-IFRS loss of €0.00 per share, versus the analyst estimate calling for a loss of €0.02 per share and a loss of €0.08 per share reported in the same period last year. Revenue for the quarter came in at EUR5.67 billion, from €7.54 billion reported in the same period last year.
Mobile device volume was 61.1 million units with smartphone volume of 11.7 million units. About 7.4 million Lumia devices were shipped and 4.3 million Asha models were shipped. Devices & Services sales fell 32 percent to €2.72 billion with average sales price down 6 percent to €45.
Outlook
Nokia expects its Devices & Services non-IFRS operating margin in the third quarter 2013 to be approximately negative 2 percent, plus or minus four percentage points. This outlook is based on Nokia’s expectations regarding a number of factors, including:
- competitive industry dynamics continuing to negatively affect Devices & Services;
- consumer demand for our products;
- ramp-up for our high-end Lumia smartphones and new Mobile Phones devices;
- expected increases in Devices & Services’ operating expenses; and
- the macroeconomic environment.
- In the third quarter 2013, supported by the wider availability of recently announced Lumia products as well as recently announced Mobile Phones products, Nokia expects higher Devices & Services net sales, compared to the second quarter 2013.
- Nokia continues to target to reduce its Devices & Services non-IFRS operating expenses to an annualized run rate of approximately EUR 3.0 billion by the end of 2013.
- Nokia and Nokia Siemens Networks expect Nokia Siemens Networks non-IFRS operating margin in the third quarter 2013 to be approximately positive 7 percent, plus or minus four percentage points. This outlook is based on Nokia Siemens Networks’ expectations regarding a number of factors, including:
- competitive industry dynamics;
- product and regional mix;
- expected continued improvement under Nokia Siemens Networks restructuring program; and
- the macroeconomic environment.
- Nokia and Nokia Siemens Networks now target to reduce Nokia Siemens Networks’ non-IFRS annualized operating expenses and production overheads by more than EUR 1.5 billion by the end of 2013, compared to the end of 2011. Nokia and Nokia Siemens Networks previous target was to reduce Nokia Siemens Networks’ non-IFRS annualized operating expenses and production overheads by more than EUR 1 billion by the end of 2013, compared to the end of 2011.
For earnings history and earnings-related data on Nokia Corp. (NOK) click here.
Mobile device volume was 61.1 million units with smartphone volume of 11.7 million units. About 7.4 million Lumia devices were shipped and 4.3 million Asha models were shipped. Devices & Services sales fell 32 percent to €2.72 billion with average sales price down 6 percent to €45.
Outlook
Nokia expects its Devices & Services non-IFRS operating margin in the third quarter 2013 to be approximately negative 2 percent, plus or minus four percentage points. This outlook is based on Nokia’s expectations regarding a number of factors, including:
- competitive industry dynamics continuing to negatively affect Devices & Services;
- consumer demand for our products;
- ramp-up for our high-end Lumia smartphones and new Mobile Phones devices;
- expected increases in Devices & Services’ operating expenses; and
- the macroeconomic environment.
- In the third quarter 2013, supported by the wider availability of recently announced Lumia products as well as recently announced Mobile Phones products, Nokia expects higher Devices & Services net sales, compared to the second quarter 2013.
- Nokia continues to target to reduce its Devices & Services non-IFRS operating expenses to an annualized run rate of approximately EUR 3.0 billion by the end of 2013.
- Nokia and Nokia Siemens Networks expect Nokia Siemens Networks non-IFRS operating margin in the third quarter 2013 to be approximately positive 7 percent, plus or minus four percentage points. This outlook is based on Nokia Siemens Networks’ expectations regarding a number of factors, including:
- competitive industry dynamics;
- product and regional mix;
- expected continued improvement under Nokia Siemens Networks restructuring program; and
- the macroeconomic environment.
- Nokia and Nokia Siemens Networks now target to reduce Nokia Siemens Networks’ non-IFRS annualized operating expenses and production overheads by more than EUR 1.5 billion by the end of 2013, compared to the end of 2011. Nokia and Nokia Siemens Networks previous target was to reduce Nokia Siemens Networks’ non-IFRS annualized operating expenses and production overheads by more than EUR 1 billion by the end of 2013, compared to the end of 2011.
For earnings history and earnings-related data on Nokia Corp. (NOK) click here.
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