BackNokia beats profit forecasts in Q4
Firm's core operating profit rose to 470 million in the fourth quarter, or 14% of sales, from 397 million in the previous quarter
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Helsinki: Finland’s Nokia on Thursday reported stronger-than-expected quarterly profits for its core network equipment business on the back of network roll-outs for faster 4G mobile services in China and North America.
Nokia, which ranks third in the global network gear market, said the unit’s core operating profit rose to €470 million ($530 million) in the fourth quarter, or 14% of sales, from €397 million in the previous quarter.
Analysts in a Reuters poll had on average expected a profit of €415 million and a margin of 12.4%.
Nokia also said it plans to pay an annual dividend €0.14 per share, compared to €0.16 expected by the analysts. Last year it paid an extra €0.26 on top of an annual dividend of €0.11.
Nokia last year sold its former flagship phone business to Microsoft, leaving it with the network equipment unit, navigation technology business and a smartphone patent portfolio. Reuters
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