Nokia Q3 Profit Climbs; Lifts FY22 Net Sales View, Maintains CC Target

(RTTNews) - Finnish critical networks and communications company Nokia Corp. (NOK) Thursday reported that its third-quarter profit climbed 22 percent to 428 million euros from last year's 351 million euros.

Earnings per share were 0.08 euro, up 33 percent from 0.06 euro a year ago.

Comparable profit for the period was 551 million euros or 0.10 euro per share, compared to last year's 463 million euros or 0.08 euro per share.

Net sales grew 16 percent to 6.24 billion euros from 5.40 billion euros a year ago. Net sales increased 6 percent at constant currency rates. Looking ahead for fiscal 2022, net sales outlook is unchanged in constant currency. On a reported basis, net sales outlook is 23.9 billion euros to 25.1 billion euros. The company previously expected net sales between 23.5 billion euros and 24.7 billion euros.

Nokia still expects comparable operating margin guidance at 11 percent to 13.5 percent.

The company said it continues tracking towards the high-end of net sales guidance for 2022 and towards the mid-point of operating margin guidance.

Beyond 2022, Nokia said, "...we currently expect growth on a constant currency basis in our addressable markets in 2023. Considering our recent success in new 5G deals in regions like India which are expected to ramp up strongly in 2023, we believe we are firmly on a path to outperform the market and to make progress towards achieving our long-term margin targets."

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com