Nokia posts forecast-beating web revenue

Nokia Corp. on Thursday posted a forecast-beating third-quarter web revenue as demand for cell networks and community infrastructure remained sturdy and current-chain constraints eased.

Nokia
NOK,
-1.ninety 4%

NOKIA,
-5.17%

mentioned it nonetheless expects to ship web gross sales progress in cell networks on a relentless-forex basis in 2022 after sturdy gross sales progress in North America all by way of the quarter, whereas gross sales in Europe, Latin America and greater China additionally grew.

Comparable web revenue for the quarter rose to 550 million euros ($537.6 million) from EUR454 million a 12 months earlier as gross sales rose sixteen% to EUR6.24 billion, it mentioned.

Analysts polled by FactSet had anticipated comparable web revenue of EUR510 million on gross sales of EUR6.05 billion.

On a reported basis, Nokia posted a web revenue of EUR427 million from EUR342 million a 12 months earlier.

Nokia lifted full-12 months gross sales steerage to between EUR23.9 billion and EUR25.1 billion from EUR23.5 billion and EUR24.7 billion, adjusted for forex. It nonetheless sees the whole-12 months comparable working margin at eleven%-thirteen.5%.

“whereas risks round timing of excellent presents in Nokia utilized sciences stay, assuming these shut we proceed monitoring in the direction of the extreme-finish of our web gross sales steerage for 2022 and in the direction of the mid-level of our working margin steerage,” Chief govt Pekka Lundmark mentioned.

Write to Dominic Chopping at [email protected]

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