Nokia Reports Generally Disappointing Q2 Results Due to Increased Competition and Challenging Environment. No Longer Expects To Gain share In 2009. My Comments..
1.This morning, Nokia Reported Generally Disappointing Q2 Results Due to Increased Competition and Challenging Environment. No Longer Expects To Gain share In 2009. Nokia’s Q2 sales fell to EUR9.91 billion from EUR13.15 billion a year earlier, which was below the Streets’ expectations of EUR10.11 billion. However, Nokia reported an EPS of EUR0.10 compared with EUR0.29 a year earlier, which was ahead of the Streets’ expectations of EUR0.09, due to better cost management (e.g. better margins). In fact, Nokia’s operating margin in its key devices and services business fell to 11.6% from 17.2% the previous year, which was ahead of expectations for 10.5%. Of note, operating margins improved sequentially in all segments. (more…)
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