- Nokia Oyj NOK reported third-quarter FY21 net sales growth of 2% year-on-year to €5.4 billion.
- Supply chain and Mobile Networks North America's headwinds constrained constant currency sales growth of 2%.
- Network Infrastructure sales grew 6% Y/Y constant currency, and Cloud & Network Services sales increased 12%.
- Margins: The gross margin expanded by 360 bps to 40.7%, reflecting continued strong execution across the business. Comparable gross margin grew 340 bps to 40.8%.
- Mobile Networks' comparable gross margin of 37.8%, up 220 bps, showed better cost competitiveness.
- The operating margin expanded 270 bps to 9.3%. Comparable operating margin increased 250 bps to 11.7%.
- Comparable EPS was €0.08 versus €0.05 last year.
- Nokia held €4.3 billion in cash and equivalents and generated €0.7 billion in free cash flow.
- Outlook: Nokia reiterated FY21 net sales of €21.7 billion - €22.7 billion and comparable operating margin of 10% - 12% and now expect to be towards the upper end of the margin range considering continued strong performance.
- Price Action: NOK shares traded higher by 3.65% at $5.97 in the premarket session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in