Nokia Earnings Beat Forecasts
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Robust demand for cheaper phones lifted third-quarter earnings and the better than expected results sent the companyâs shares sharply higher.
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Nokia , the world's top cellphone maker, reported a 57 percent rise in earnings per share from October to December, with booming demand in emerging markets boosting its global market share to 40 percent.
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Plus: Alltel profit, revenue rise...SanDisk earnings top estimates...SAP revenues solid, outlook moderate...Phone sales boost Nokia profits past forecasts.
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Motorola Inc.  on Tuesday said quarterly earnings rose 34 percent, beating Wall Street expectations, as it regained global market share in wireless handsets amid robust sales of its most advanced phones.
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Robust demand for new cheaper phones boosted third-quarter earnings at Nokia Oyj, the world's biggest maker of mobile phones, with the better than expected result sending its shares sharply higher.
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The company's fourth-quarter earnings beat analyst expectations.
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Motorola Inc. MOT.N on Tuesday said  quarterly earnings rose 34 percent, beating Wall Street  expectations, as it regained global market share in wireless  handsets amid robust sales of its most advanced phones.
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Nokia Corp., the world's No. 1 mobile phone maker, on Thursday said that fourth-quarter net profit surged 44 percent to $2.6 billion and that it had reached its long-term goal of 40 percent market share in handset sales. The company's stock soared.Finland-based Nokia said that net sales in October through December grew 34 percent to 15.7 billion euros ($22.9 billion), and that it sold more than 133 million handsets _ up 27 percent from the same period in 2006.'Nokia's excellent fourth quarter contributed to a year of high growth and increased profitability for the company,' Chief Executive Olli-Pekka Kallasvuo said. Read more
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Nokia said Thursday its third-quarter revenue and profits would be better than expected, citing an increase in mobile phone sales. The news pushed its shares up nearly 6.5 percent in trading.
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Business did not turn out in rosy hues for Nokia Corp in the third quarter as the telecom giant reported a 20-percent drop in operating profit and a small 1-percent increase in net sales.
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Technology stocks ended higher  on  Thursday after mobile phone maker Nokia raised its earnings  forecast, but blue chips closed fell as oil prices climbed  almost $2 a barrel, increasing concerns about future corporate  profits.
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In the three months to September, Nokia gained market share for a second consecutive quarter, helped by price cuts and new handsets.
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Mobile phone maker Nokia reports a smaller-than-expected drop in earnings following strong demand over Christmas.
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Nokia, the world's top cellphone maker, reported a 57 percent rise in earnings per share in the October-to-December quarter, with booming demand in emerging markets boosting its global market share to 40 percent.
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MOBILE phone giant Nokia has reported a drop in third-quarter profits after cutting handset prices to win back market share, but said sales had picked up.
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U.S. stocks were little changed on Thursday after cell phone maker Nokia Corp.  raised its earnings forecast and weekly jobless claims fell more than Wall Street's forecast.
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Nokia, the world's largest mobile phone maker, said its results for third quarter would be better than earlier forecast due to higher-than-expected handset sales.