Nokia slightly down as Q1 profit growth fails to meet consensus; outlook unchanged
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Nokia (NOK) Tops Q1 EPS by 1c; reaffirms FY24 outlook
April 18, 2024 5:33 AM EDTNokia (NYSE: NOK) reported Q1 EPS of EUR0.09, EUR0.01 better than the analyst estimate of EUR0.08. Revenue for the quarter came in at EUR4.67 billion versus the consensus estimate of EUR5.41 billion.
OUTLOOK
Issues Comparable operating profit of EUR 2.3 billion to EUR 2.9... More
Nokia joins Ericsson in forecasting stronger second half after Q1 profit miss
April 18, 2024 1:09 AM EDTBy Olivier Sorgho
(Reuters) -Finnish telecom gear maker Nokia reported a smaller-than-expected rise in quarterly profit on Thursday as sluggish demand for 5G gear in key markets North America and India continued to weigh on sales.
"This will still be a weak year, for the mobile RAN (radio access network) market and we expect, as I said, it to gradually pick up during the year," CEO Pekka Lundmark told reporters.
A fall in demand for 5G equipment in North America, the largest market for Nokia and Swedish rival Ericsson, and market share losses in China... More
