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NOKIA SHARES UP ON INTERIM RESULTS

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NOKIA SHARES UP ON INTERIM RESULTS

Oct 23 2014, 1.20pm GMT

Stock.com

Nokia shares +7.6% premarket on Q3 interim results.

  • Net profit of €747M. Same time last year Nokia had losses of €91M loss
  • Net sales increased to approximately €3.3B, the first annual rise since the first quarter of 2011.
  • Expected operating profit margin increased above 11%. Previous expectation was in high single digits.
  • Non-IFRS* diluted EPS in Q3 2014 of EUR 0.09 (EUR 0.06 in Q3 2013); reported diluted EPS of EUR 0.19 (EUR 0.04 in Q3 2013)

* IFRS - International Financial Reporting Standards

Nokia Corporation Interim Report for Q3 2014 and January-September 2014

Nokia Networks

  • 13% year-on-year growth in net sales, from EUR 2.6 billion in Q3 2013 to EUR 2.9 billion in Q3 2014.
  • Non-IFRS* operating profit of EUR 397 million, or 13.5% of net sales, compared to EUR 217 million, or 8.4% of net sales, in Q3 2013. 

Improvement primarily due to major new LTE network deployments in North America and Greater China, which benefitted Mobile Broadband.

HERE

  • 12% year-on-year growth in net sales, from EUR 211 million in Q3 2013 to EUR 236 million in Q3 2014.

Primarily due to sales of map data licenses for the embedded navigation systems of 3.2 million new vehicles globally, compared to 2.6 million vehicles in Q3 2013.

Nokia Technologies

  • 9% year-on-year growth in net sales, from EUR 140 million in Q3 2013 to EUR 152 million in Q3 2014.

Primarily due to Microsoft becoming a more significant intellectual property licensee.

Rajeev Suri, Nokia President and CEO, said:

"Nokia’s third quarter results demonstrate our strong position in a world where technology is undergoing significant change. We saw growth in all three of our businesses; non-IFRS earnings per share was up 50%; and we moved forward with our capital structure optimization program, returning cash to shareholders.”

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