Nokia presents surprising performances - shares leapedThursday, 26 January 2012
The Finnish mobile phone giant Nokia reported an operating profit of EUR 478 million for the fourth quarter, excluding special items, compared with profit of 1.09 million euros corresponding periods of 2010.
Analysts had in average expected a profit of eur 311 million, according to Reuters.
Excluding one-time items, earnings per share stood at 00:06 euros, compared to 00:22 EUR in the fourth quarter of 2010. This low expectation of 0:04 euros was the norm.
Turnover amounted to 10.005 million euros, compared to 12.651 million euros a year earlier.
The Board proposes a dividend to shareholders of 0:20 euros per share, compared with the dividend last year of 0:40 euros per share.
AdvertisementThe market reaction was swift, share will rose by around 4 percent since the company reports its financial results, which were better than expected.
For Nokia's largest business unit, Devices & Services, sales fell by 29 percent to 5.997 million euros. Operating margin, excluding special items, was 4.9 percent, compared with 12.1 percent a year earlier.
Nokia shipped 113.5 million phones during the quarter, up 6 percent compared to the previous quarter but down 8 percent compared with the corresponding periods of 2010.
The sale of jointly owned Nokia Siemens Networks, which competes with Ericsson, fell by 4 percent to 3.815 million euros. Operating margin excluding special items rose from 3.7 to 4.6 percent.
Nokia expects an adjusted operating margin for Devices & Services around zero, plus or minus two percentage points during the first quarter of 2012.
For Nokia Siemens Networks it expected margin to be negative at the beginning of the year.
By Scancomark.se Team
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