Nokia beats profit expectations in third quarter
- Wall St. stock futures fall after Italy referendum
- Oil tops $55 for first time in 16 months as OPEC deal fuels buying
- Consolidated Communications (CNSL) to Acquire FairPoint Communications (FRP) in $1.5B Deal
- Burberry rejects multiple takeover offers from Coach: Financial Times
- Trump picks ex-rival Carson to head housing department
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
- Credit Suisse Upgrades National Beverage (FIZZ) to Outperform
- India's Cyrus Mistry defends his position in letter to six Tata firms
- Bangladesh to share findings of heist inquiry with Philippines