Nokia’s Third-Quarter Net Profit Nearly Doubles As Sales Rise

FRANKFURT, Oct 22 (NNN-dpa) -- Finnish telecommunications equipment maker Nokia on Thursday reported a sharp rise in third-quarter profit and higher sales, although operating profit declined, reported German Press Agency (dpa).

Net profit nearly doubled to €156 million (US$175 million) from €80 million (US$90 million) a year earlier, according to the company’s earnings report.

Profit from continuing operations rose 96 per cent to €176 million (US$198 million) from €90 million (US$101 million), while earnings per share from continuing operations increased to €0.03 from €0.01.

Comparable profit from continuing operations climbed 49 per cent to €498 million (US$559 million), with comparable earnings per share rising to €0.09 from €0.06.

Operating profit, however, fell 22 per cent to €196 million (US$220 million), while the operating margin narrowed to 3.8 per cent from 5.4 per cent a year earlier.

Comparable operating profit increased 35 per cent to €605 million (US$679 million), with the corresponding margin improving to 11.7 per cent from 9.5 per cent.

Third-quarter revenue rose 10 per cent to €5.15 billion (US$5.78 billion) from €4.7 billion (US$5.3 billion) a year earlier. At constant exchange rates, revenue increased nine per cent.

Looking ahead, Nokia reaffirmed its full-year outlook, forecasting comparable operating profit of between €2.1 billion (US$2.4 billion) and €2.6 billion (US$2.9 billion) for 2026.

The company also reported progress in integrating US optical networking specialist Infinera, with the process now expected to be completed by the end of 2026, a year ahead of schedule.

Nokia expects the integration to generate €200 million (US$224 million) in net synergies.

--NNN-dpa