Nokia: EPS beats expectations, helped by Apple agreement.
(CercleFinance.com) - Nokia's second-quarter profit rose more sharply than expected as the telecoms equipment maker benefited from an agreement reached with Apple in the quarter.
Second-quarter operating profit (non-IFRS) rose by 73% to 574 million euros, giving a diluted EPS of 0.08 euros compared to a consensus of 0.04 euros.
Group sales dropped 1 per cent from a year ago to 5.6 billion euros, which compares with a market consensus of 5.6 billion euros.
Nokia Technologies, whose principal asset is the group's intellectual property rights, saw operating income jump to 230 million euros in the quarter, compared to 89 million euros one year ago.
While not specifying the amount, Nokia said it received an up-front cash payment from Apple in the second quarter.
Shares in the Finnish networks provider rose by 4.1 per cent to 5.5 euros in early trading this morning, as investors seemed to be reassured by the numbers.
Nokia also said it expected to see a decline in its network sales in line with the market in full year 2017.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Second-quarter operating profit (non-IFRS) rose by 73% to 574 million euros, giving a diluted EPS of 0.08 euros compared to a consensus of 0.04 euros.
Group sales dropped 1 per cent from a year ago to 5.6 billion euros, which compares with a market consensus of 5.6 billion euros.
Nokia Technologies, whose principal asset is the group's intellectual property rights, saw operating income jump to 230 million euros in the quarter, compared to 89 million euros one year ago.
While not specifying the amount, Nokia said it received an up-front cash payment from Apple in the second quarter.
Shares in the Finnish networks provider rose by 4.1 per cent to 5.5 euros in early trading this morning, as investors seemed to be reassured by the numbers.
Nokia also said it expected to see a decline in its network sales in line with the market in full year 2017.
Copyright (c) 2017 CercleFinance.com. All rights reserved.