Nokia reports loss per share of €0.03 in Q2

Thursday, 25. July 2019 07:34

Finnish phone company Nokia reported on Thursday that its loss per share of €0.03 in the second quarter of 2019, improving 40% year-over-year. Net sales in the same timeframe rose 7% annually, to reach €5.69 billion. The operating margin fell increased by 25% compared to the second quarter of 2018 and amounted to 7.9%. Operating loss was reported at €57 million, compared to around €221 million in the same fiscal period last year.

Networks sales rose 7.6%, from €4.08 billion to €4.39 billion. The company added that its full-year guidance is maintained, with seasonality characterized by weaker first and third quarters and stronger second and fourth quarters.

"In the quarter, we saw good year-on-year growth, meaningful improvements in profitability, robust progress in our strategic expansion areas of Software and Enterprise and excellent momentum in our IP Routing business. We also continued to enhance our position in 5G, and now have 45 commercial 5G deals and 9 live networks. Risks remain in the year, including execution demands in the second half, trade-related uncertainty and challenges in the China market," said Rajeev Suri, Nokia's CEO.

Related Links: Nokia Corp.
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Breaking the News / MA