Cost-cutting boosts Nokia earnings in first quarter

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Earnings

HELSINKI, April 18 — Cost-cutting helped Finnish telecoms equipment maker Nokia today report a 52-per cent rise in first-quarter net profit to 438 million euros even though...

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Nokia posted sales of 4.67 billion euros, down by a fifth from a year ago in a “challenging environment”. It mobile networks activity was hit by operators’ declining investments in North America and India. However, Nokia saw “continued improvement in order intake, meaning we remain confident in a stronger second half and achieving our full year outlook.”Atte Riikola, analyst with Finnish market research firm Inderes, told AFP Nokia’s sales were a concern however.

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