Nokia's Q1 comparable operating profit grows less than expected
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FILE PHOTO: A view shows Nokia headquarters in Espoo, Finland, October 19, 2023. JUSSI NUKARI/Lehtikuva/via REUTERS/File Photo
(Reuters) -Finnish telecom gear maker Nokia reported on Thursday a first-quarter comparable operating profit that missed market expectations, with net sales falling 19% as operators' spending on 5G technology slows.
Nokia said its comparable operating profit excluding certain items of income and expenses grew to 597 million euros from a year-earlier 479 million. Four analysts polled by LSEG had on average forecast a comparable profit of 663 million euros.
The company kept its full-year outlook.
(Reporting by Olivier Sorgho in Gdansk; Editing by Anna Ringstrom)
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