Nokia Earnings: Here’s Why Investors Don’t Like These Results
Nokia Corporation (NYSE:NOK) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.48%.
Nokia Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.0 in the quarter versus EPS of $-0.10 in the year-earlier quarter.
Revenue: Decreased 40.38% to $5.7 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Nokia Corporation reported adjusted EPS loss of $0 per share. By that measure, the company beat the mean analyst estimate of $-0.03. It missed the average revenue estimate of $8.63 billion.
Quoting Management: Nokia CEO Stephen Elop said the mobile phones business unit started to demonstrate “some signs of recovery in the latter part of the second quarter following a difficult start to the year.” Mr. Elop also said Nokia Siemens Networks “continued to deliver well against its focused strategy,” adding he looks forward to strengthening the division as “a more independent entity.”
Key Stats (on next page)…