Why Nokia Shares Are Moving Today

Nokia Oyj NOK shares are trading higher by 6.8% at $6.20 Thursday morning after the company reported better-than-expected second-quarter sales results.

The Finnish telecom equipment maker reported second-quarter earnings per share of 7 cents, compared with 2 cents per share for the prior-year quarter... Read More

"I am delighted that our strong start to 2021 continued in the second quarter. Our constant currency sales growth of 9%, combined with good cost control, enabled us to deliver a comparable operating margin of 12.8%," said Pekka Lundmark, President and CEO, on the second-quarter 2021 results.

Nokia is a leading vendor in the telecommunications equipment industry. The company's network business derives revenue from selling wireless and fixed-line hardware, software, and services. Nokia's technology segment licenses its patent portfolio to handset manufacturers and makes royalties from Nokia-branded cellphones.

Nokia operates on a global scale, with most of its revenue from communication service providers.

Nokia has a 52-week high of $9.79 and a 52-week low of $3.21.