Nokia Group on Thursday announced third-quarter net profit that was better than forecast as demand for mobile networks and network infrastructure remained strong and supply chain constraints eased.
Nokia
ARE NOT,
said it still expects to deliver net sales growth in mobile networks on a constant currency basis in 2022 after North American sales grew strongly in the quarter, while sales in Europe, Latin America and China also grew.
Comparative net profit for the quarter rose to 550 million euros ($537.6 million) from 454 million euros a year earlier as revenue rose 16% to 6.24 billion euros, it said.
Analysts polled by FactSet had expected an equivalent net profit of EUR 510 million on revenue of EUR 6.05 billion.
On the basis of the report, Nokia posted a net profit of EUR 427 million from EUR 342 million a year earlier.
Nokia raised its full-year sales guidance to EUR 23.9 billion to EUR 25.1 billion from EUR 23.5 billion and EUR 24.7 billion, adjusted for currency. It still shows an equivalent full-year operating margin at 11%-13.5%.
“While the timing risk of uncompleted transactions within Nokia Technologies remains, assuming these transactions close, we continue to monitor net sales guidance,” said CEO Pekka Lundmark. premium for 2022 and towards the midpoint of our operating margin guidance.”
Write to Dominic Chopping at [email protected]
