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Nokia posts small underlying profit in Q3, shipments improve
2013-10-29 12:07:00| Telecompaper Headlines
(Telecompaper) Nokia reported a small underlying profit for the third quarter, helped by reduced losses at its mobile phone business. Adjusted EPS was EUR 0.01, versus a loss of EUR 0.07 a year earlier, while revenues were down 22 percent year-on-year to EUR 5.662 billion. The adjusted operating profit more than doubled to EUR 215 million, and the company generated positive operating cash flow of EUR 9 million. The company's main division Devices & Services met its outlook for an adjusted operating margin of around minus 2 percent, with a result of 1.6 percent, and revenues improved sequentially by 6 percent to EUR 2.898 billion, thanks to quarterly growth in shipments of both smartphones and feature phones. Nokia said it expects Devices & Services to remain in the red in Q4, when it will start reporting the unit as discontinued activities, pending completion of the planned sale of the mobile phone business to Microsoft.
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Category:Telecommunications
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