Nokia's Q1 operating profit rose to €597m, despite a 19% net sales drop and 5G tech sales decline.
Nokia reported a smaller-than-expected Q1 rise in comparable operating profit, partly due to 5G tech sales decline. Despite a 19% drop in net sales, the company's operating profit rose to €597m from €479m a year earlier due to cost-cutting measures. Nokia's CEO, Pekka Lundmark, expressed confidence in a stronger second half of 2022, maintaining the company's outlook for a comparable operating profit of €2.3-€2.9bn for the year.
April 18, 2024
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