- Nokia (NYSE:NOK) is up 3.8% today and inching closer to its 52-week high after Q2 earnings showed profits that beat expectations despite warnings of a slowdown ahead.
- Net income rose 73% to €574M -- €0.08/share, well above expectations for €0.05/share. Revenues dipped to €5.63B, though, missing consensus for €5.64B.
- A deal with Apple (NASDAQ:AAPL) to settle a patent/licensing dispute boosted results in its Technologies unit and took the revenue edge off a Networks business where net sales fell 5%.
- Revenue breakout: Networks, €4.97B (down 5%); Nokia Technologies, €369M (up 90%); Group common and other, €307M (up 14%). In Networks: Ultra Broadband, €2.17B (down 8%); Global Services, €1.45B (flat); IP Networks and Applications, €1.36B (down 4%).
- Like Ericsson (BS:ERICAs), Nokia sees a tougher network market in the coming year, guiding to a decline of 3-5% vs. an earlier view of a "low single digit" drop.
- Earnings slides
- Press Release
- Now read: Nokia: Tricky Trade, Still Bullish Long-Term
Original article