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Nokia grows quarterly profit 50%
2015-07-30 09:07:00| Telecompaper Headlines
(Telecompaper) Nokia reported second-quarter sales up 9 percent year-on-year to EUR 3.2 billion. Revenue growth came across its activities, with the Networks business up 6 percent, Here growing 25 percent and the Technologies division up 31 percent. On a constant currency basis however, group revenues fell 1 percent. Adjusted operating profit showed a strong improvement of 51 percent to EUR 521 million, including growth of 11 percent at Nokia Networks to EUR 313 million. Adjusted EPS rose to EUR 0.09 from EUR 0.06 a year ago, and reported earnings moved to a profit of EUR 0.09 per share from a loss of EUR 0.01 a year ago. Profits benefited also from a one-time gain of EUR 110 million on the sale by Nokia's venture fund of a stake in Chinese company Ganji.com. Nokia said the telecom infrastructure market remained challenging and it was highly focused on reducing costs. The company maintained its outlook for the full year, for an increase in revenues at Nokia Networks and an adjusted operating margin around the midpoint of its long-term target range of 8-11 percent. Here is also expected to grow annual sales and reach a margin of 9-12 percent, and Nokia Technologies should post a full-year margin in line with the 58 percent achieved in Q2.
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Category:Telecommunications