Nokia stock falls 7 percent after vague long-term profit outlook
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May 10, 2016 6:42 AM EDT
Nokia (NYSE: NOK) reported Q1 EPS of EUR0.03, EUR0.01 worse than the analyst estimate of EUR0.04. Revenue for the quarter came in at EUR5.6 billion versus the consensus estimate of EUR6.24 billion.
CEO Rejeev Suri commented:
Nokias first quarter results demonstrate the strategic value of our combination with Alcatel-Lucent.
I am pleased that we were able to deliver solid profitability in what is typically a seasonally weak quarter and at a time when the risk of integration-related disruption was high. While our revenue decline was disappointing, the shortfall was largely... More
May 10, 2016 6:29 AM EDT
On May 9, 2016, Nokia (NYSE: NOK) closed the acquisition of 107 775 949 Alcatel-Lucent shares from JPMorgan Chase Bank N.A., as depositary (the "Alcatel Depositary"), pursuant to the share purchase agreement announced on March 17, 2016. These shares represent Alcatel-Lucent shares that remained in the Alcatel-Lucent American depositary receipts program after the cancellation period and following the... More
