Nokia Q1 profit beats expectations

HELSINKI Tue Apr 29, 2014 11:07am IST

The flagship store of Finnish mobile phone manufacturer Nokia is pictured in Helsinki September 7, 2012. REUTERS/Sari Gustafsson/Lehtikuva/Files

The flagship store of Finnish mobile phone manufacturer Nokia is pictured in Helsinki September 7, 2012.

Credit: Reuters/Sari Gustafsson/Lehtikuva/Files

Related Topics

Stocks

   

HELSINKI (Reuters) - Nokia (NOK1V.HE) reported a surprise year-on-year rise in the quarterly profit of its network equipment unit, its core business after the sale of phone division to Microsoft (MSFT.O)

The Finnish company said its first-quarter operating profit for the networks business grew 10 percent from a year ago to 216 million euros ($299 million), topping all forecasts in a Reuters poll of analysts which had an average expectation of 143 million euros.

Nokia's group earnings per share in the quarter were 0.04 euros, ahead of the market expectation of 0.03 euros.

Nokia earlier on Tuesday announced that Rajeev Suri, the chief of its networks unit, will become the group's next chief executive next month and said it would return 2.25 billion euros to shareholders.

($1 = 0.7223 Euros)

(Reporting By Jussi Rosendahl; Editing by Robert Birsel)

FILED UNDER:

Reforms Push

REUTERS SHOWCASE

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

26/11 Plotter

26/11 Plotter

Pakistan to challenge bail for Mumbai attack "mastermind".  Full Article 

Chinese Economy

Chinese Economy

China revises up size of 2013 economy, sees no effect on 2014 growth.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage