Nokia second-quarter beats forecasts on rising demand [Reuters]
Nokia Corporation Sponsored American Depositary Shares (NOK)
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Source: Reuters
Nokia second-quarter beats forecasts on rising demand - Reuters 1 Min Read (Reuters) - Finnish telecom network equipment maker Nokia ( NOKIA.HE ) on Thursday reported a surprise rise in quarterly profits, citing rising demand, and stuck to its 2019 forecasts. Nokia reported April-June underlying earnings per share of 0.05 euros, compared with a 0.03 euros average forecast in a Refinitiv poll. The company said second quarter revenues rose 7% from a year ago to 5.69 billion euros ($6.34 billion), beating analysts’ average forecast of 5.43 billion in the poll. The telecom networks industry has faced slowing demand since 4G network sales peaked in the middle of the decade, but a new cycle of network upgrades appears to be kicking in as demand for 5G technology increases. Reporting by Tarmo Virki; editing by Uttaresh.V All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2019 Reuters. All Rights Reserved. Nokia second-quarter beats
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