News Formal

Nokia shares jump after cull of low-margin business sees earnings beat

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 66%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Finnish telecom network equipment maker Nokia reported an unexpected rise in its second-quarter underlying profit on Friday, amid the COVID-19 ...

HELSINKI/STOCKHOLM: Finnish telecom network equipment maker Nokia reported an unexpected rise in second-quarter underlying profit on Friday as it took on less low-margin business particularly in China, sending its shares up 13per cent in early trade.

Nokia said its underlying earnings in April through June rose to 0.06 euros per share from 0.05 euros a year ago, beating the 0.03 euros consensus in a Refinitiv poll. Quarterly revenue fell 11per cent to 5.09 billion euros, below a consensus figure of 5.28 billion, Refinitiv Eikon data showed.Most of the drop was due to the effects on the economy of COVID-19, but Suri also cited a sharp decline in China based on a"prudent approach" in that market, and proactive steps to reduce low-margin services business, though he didn't say what the latter consisted of.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 6. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Linde reports quarterly earnings beat, sees 4-6per cent 2020 EPS growthU.S.-German industrial gas producer Linde reported better-than-expected quarterly earnings on Thursday, saying higher operating margins helped ...
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »