Nokia: shares fall over networks business disappointment
(CercleFinance.com) - Finland's Nokia reported falling quarterly revenues, including at its bellwether networks business, sending its stock down over 8 per cent on Thursday.
Second-quarter net sales fell 6% to 5.3 billion euros, compared to 5.6 billion euros in the second quarter of 2017.
In its networks division, sales decreased by 6% to 4.7 billion euros, from 5 billion euros one year earlier, the telecoms gear maker said.
But Nokia said it expects market conditions to improve in the second half, as 5G accelerates significantly.
"Our deal win rate is very good, with significant recent successes in the key early 5G markets of the United States and China”, said CEO Rajeev Suri.
At the end of the day, Nokia posted a second-quarter loss of 0.05 euros per share on a reported basis, compared to a loss of 0.07 euros in the same quarter of 2017.
Nokia's shares fell 8.8% per cent after the report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Second-quarter net sales fell 6% to 5.3 billion euros, compared to 5.6 billion euros in the second quarter of 2017.
In its networks division, sales decreased by 6% to 4.7 billion euros, from 5 billion euros one year earlier, the telecoms gear maker said.
But Nokia said it expects market conditions to improve in the second half, as 5G accelerates significantly.
"Our deal win rate is very good, with significant recent successes in the key early 5G markets of the United States and China”, said CEO Rajeev Suri.
At the end of the day, Nokia posted a second-quarter loss of 0.05 euros per share on a reported basis, compared to a loss of 0.07 euros in the same quarter of 2017.
Nokia's shares fell 8.8% per cent after the report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.