Close Menu
    Facebook X (Twitter) Instagram Pinterest YouTube LinkedIn TikTok
    TopBuzzMagazine.com
    Facebook X (Twitter) Instagram Pinterest YouTube LinkedIn TikTok
    • Home
    • Movies
    • Television
    • Music
    • Fashion
    • Books
    • Science
    • Technology
    • Cover Story
    • Contact
      • About
      • Amazon Disclaimer
      • Terms and Conditions
      • Privacy Policy
      • DMCA / Copyrights Disclaimer
    TopBuzzMagazine.com
    Home»Technology»Nokia Q3 Operating Profits Below Expectations Amid Strong Demand
    Technology

    Nokia Q3 Operating Profits Below Expectations Amid Strong Demand

    By AdminApril 30, 2023
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Nokia Q3 Operating Profits Below Expectations Amid Strong Demand

    Nokia on Thursday reported quarterly operating profit below market expectations even as the Finnish telecom equipment maker continues to benefit from strong demand from phone companies as they roll out 5G.

    Third-quarter comparable operating profit rose to EUR 658 million (roughly Rs. 5,500 crore) from EUR 633 million (roughly Rs. 5,150 crore) last year, lagging the EUR 690.6 million (roughly Rs. 5,600 crore) mean forecast of 10 analysts polled by Refinitiv.

    While increasing macro and geopolitical uncertainty could have an impact on some customers’ capex spending, Nokia expects growth on a constant currency basis in its markets in 2023, Chief Executive Officer Pekka Lundmark said.

    “Considering our recent success in new 5G deals in regions like India which are expected to ramp up strongly in 2023, we believe we are firmly on a path to outperform the market and to make progress towards achieving our long-term margin targets,” he said.

    Net sales grew 6 percent in constant currency in the quarter compared to the same period a year ago to EUR 6.24 billion (roughly Rs. 50,700 crore), beating estimates of EUR 6.06 billion (roughly Rs. 50,000 crore).

    But the comparable operating margin fell year-on-year to 10.5 percent from 11.7 percent as improving profitability in Mobile Networks and Network Infrastructure was offset by timing effects of contract renewals in Nokia Technologies, the company said.

    Rival Ericsson also posted weaker-than-expected core earnings on Thursday.

    Nokia’s share price is down some 15 percent year-to-date, outperforming Ericsson’s 28 percent drop and in line with European telecoms stocks which on average are down 15 percent in 2022.

    © Thomson Reuters 2022

    Affiliate links may be automatically generated – see our ethics statement for details.

    For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

    Motorola Razr 2023 Models Tipped, May Feature Snapdragon 8 Plus Gen 1 SoC, 144Hz Display Flipkart Partners eDAO, Polygon to Launch ‘Flipverse’ Metaverse Shopping Experience

    Read The Full Article Here

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Big Tech’s reverse acquihires for AI talent are hollowing out startups and eroding the culture that has made Silicon Valley an unparalleled source of innovation (Asa Fitch/Wall Street Journal)

    August 17, 2025

    I Tried the Best At-Home Pet DNA Test Kits on My Two Cats (2025)

    August 16, 2025

    Sources say Meta’s chaotic culture and lack of vision have led to AI brain drain; Meta strongly denies it has had issues with talent and retention (Rashi Shrivastava/Forbes)

    August 16, 2025

    Developers Say GPT-5 Is a Mixed Bag

    August 15, 2025

    Meta’s strong Q2 shows it has learned a company must give investors short-term results to get permission for long-term investments, such as its AI ambitions (Ben Thompson/Stratechery)

    August 15, 2025

    xAI Was About to Land a Major Government Contract. Then Grok Praised Hitler

    August 14, 2025
    popular posts

    Aurora James Is FASHION’s April 2023 Cover Star

    Chanel Transported Us to the Scottish Highlands

    ‘The Bay’ Adds Dee Wallace, Olivia d’Abo & Tristan Mack

    Examining how the world’s largest water striders jump on water

    Dealing With a Pet’s Diagnosis? You Don’t Have to Face

    Taylor Swift Shares New Songs With Ice Spice and Lana

    Black Mail ― Wobbly, fast-paced screed against porn addiction

    Categories
    • Books (3,353)
    • Cover Story (5)
    • Events (19)
    • Fashion (2,493)
    • Interviews (43)
    • Movies (2,653)
    • Music (2,933)
    • News (156)
    • Politics (3)
    • Science (4,503)
    • Technology (2,648)
    • Television (3,378)
    • Uncategorized (932)
    Archives
    Facebook X (Twitter) Instagram Pinterest YouTube Reddit TikTok
    © 2025 Top Buzz Magazine. All rights reserved. All articles, images, product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Terms of Use and Privacy Policy.

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Do not sell my personal information.
    Cookie SettingsAccept
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT