Nokia: shares inch up after strong end to year
(CercleFinance.com) - Nokia's fourth-quarter results were a "strong end to a challenging year," the Finnish telecoms gear maker said on Thursday, posting a slightly better operating profit than the same period in 2018.
Fouth-quarter operating profit came in at 803 million euros, up 45% from the 552 million euros posted in the fourth quarter of 2018.
"We saw strength in many parts of our business in the quarter," Nokia said in a statement, even though net sales remained flat during the quarter, at 6.9 billion euros.
The group said it mostly benefited from cost savings, lower transaction and integration costs, and lower income tax.
CEO Rajeev Suri warned that 2020 "will present its share of challenges," but added that the company was taking the "right steps" to position for a stronger 2021.
Nokia repeated its full-year forecast of non-IFRS diluted EPS of 0.25 euro, plus or minus 5 cents, and operating margin of 9.5%, plus or minus 1.5%.
The shares were up over 3% on Euronext Paris after this presentation.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Fouth-quarter operating profit came in at 803 million euros, up 45% from the 552 million euros posted in the fourth quarter of 2018.
"We saw strength in many parts of our business in the quarter," Nokia said in a statement, even though net sales remained flat during the quarter, at 6.9 billion euros.
The group said it mostly benefited from cost savings, lower transaction and integration costs, and lower income tax.
CEO Rajeev Suri warned that 2020 "will present its share of challenges," but added that the company was taking the "right steps" to position for a stronger 2021.
Nokia repeated its full-year forecast of non-IFRS diluted EPS of 0.25 euro, plus or minus 5 cents, and operating margin of 9.5%, plus or minus 1.5%.
The shares were up over 3% on Euronext Paris after this presentation.
Copyright (c) 2020 CercleFinance.com. All rights reserved.