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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Markets

REUTERS SHOWCASE

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Power Outage

Power Outage

Mumbai hit by power cuts  Full Article 

Commodities

Commodities

Gold imports, premiums to jump on festive demand - top refiner  Full Article 

Economic Worries

Economic Worries

Pakistan's promises to IMF in doubt as protests sap economy   Full Article 

Islamic Finance

Islamic Finance

Basel III deposit challenge looms over Islamic banks   Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Reuters India Mobile

Reuters India Mobile

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