Nokia joins Ericsson in forecasting stronger second half after Q1 profit miss

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Go back to Nokia joins Ericsson in forecasting stronger second half after Q1 profit miss

Nokia slightly down as Q1 profit growth fails to meet consensus; outlook unchanged

April 18, 2024 5:45 AM EDT

Nokia (NYSE: NOK) shares fell more than 1% in European trade Thursday after the company posted a smaller-than-expected increase in Q1 profit, as continued weak demand for 5G equipment in North America and India impacted sales.

The Finnish telecom equipment manufacturer reported a first-quarter operating profit of 597 million euros, a rise from 479 million euros a year earlier, despite a 19% drop in... More