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Nokia improves FY margin target, Q3 sales down 2%
2015-10-29 08:54:00| Telecompaper Headlines
(Telecompaper) Nokia reported third-quarter sales down 2 percent year-on-year to EUR 3.04 billion. Excluding currency effects, sales fell 10 percent. Adjusted earnings declined 11 percent to EUR 0.08 per share, and reported earnings dropped to EUR 0.05 from EUR 0.57 per share a year ago when the company booked a deferred tax asset. Adjusted operating profit was still 4 percent higher at EUR 475 million, due largely to savings at group level. Nokia Networks recorded sales down 2 percent to EUR 2.88 billion, and adjusted operating profit fell 2 percent to EUR 391 million. Despite the weaker result, Nokia said it still expects sales growth at the networks business over the full year and to maintain strong profitability. It now expects Networks to achieve the high end of the long-term adjusted operating margin target of 8-11 percent in 2015.
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Category:Telecommunications