Nokia beats profit expectations in third quarter
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
A photo illustration of a man silhouetted against a Nokia logo in the central Bosnian town of Zenica January 23, 2014. REUTERS/Dado Ruvic/File Photo
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
HELSINKI (Reuters) - Finnish telecom network equipment maker Nokia
Third-quarter earnings before interest and taxes (EBIT) decreased 18 percent from a year ago to 556 million euros ($606 million), clearly surpassing the average analyst forecast of 430 million given in a Reuters poll of analysts.
Group sales dropped 7 percent from a year ago to 5.95 billion euros, including network equipment sales falling to 5.32 billion, which compared with a market consensus of 5.39 billion.
Nokia also said its chief financial officer Timo Ihamuotila, who had helped the company to restructure from a troubled phone maker into a network equipment company, would resign to join Switzerland's ABB.
(Reporting by Jussi Rosendahl and Tuomas Forsell)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Herbalife (HLF) Provides Q4, FY17 Guidance in Memorandum for $1.325B Credit Facility; Lowers FY17 Sales Guidance
- Instinet (Nomura) Downgrades Silicon Motion Technology (SIMO) to Neutral
- Tucows (TCX) to Acquire eNom from Rightside (NAME) for $83.5M
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!