Nokia quarterly profit, revenue beat as CEO Lundmark revamps strategy
Revenue fell 5 per cent to €6.57 billion between October and December
Photograph: Markku Ojala/EPA
Nokia said its October-December revenue fell 5 per cent to €6.57 billion, beating a consensus figure of €6.42 billion, Refinitiv Eikon data showed.
Nokia said its October-December underlying earnings fell to €0.14 per share from €0.15 a year ago, beating the €0.11 consensus.
Nokia forecast 2021 revenues to fall to between €20.6 billion and €21.8 billion, from €21.9 billion in 2020, adding that underlying operating profit margin would be 7 per cent-10 per cent. It reached a 9.7 per cent profit margin last year.
Nokia shares have seen wild swings over the last two weeks as the stock has been targeted by the retail trading frenzy, alongside Gamestop and other tech companies. – Reuters