Nokia Q1 profit beats expectations
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)
- Tweet this
- Share this
- Digg this
- UPDATE 3-U.S. fines Berkshire over stock deal, Buffett admits mistake
- UPDATE 2-UK launches hunt for man with British accent on beheading video
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Islamic State opens new anti-U.S. front with beheading video
- McCain calls for dramatic increase in US airstrikes against Islamic State
Addressing India's Infra Needs
The World Bank's private-sector financing arm on Wednesday launched $2.5 billion, rupee-denominated, bonds in the Indian market to fund infrastructure projects, after raising $1 billion in offshore bonds for the sector last year. Full Article