in

Nokia reported higher than expected profit and sales in Q4, expecting strong profits in 2019

Nokia on Thursday announced the results of fourth-quarter which came up beating sales and profit estimates.

Telecom network equipment maker also announced its 2109 forecast which also remained stronger than the expectations.

In the fourth quarter, non-IFRS operating profit of the company rose by 12 percent year-on-year to 1.12 billion euros ($1.29 billion), which came well above of 1.056 billion euros ($1.205 billion) estimates of analysts surveyed by the Reuter in a poll.

Nokia forecasted earning per share of 0.25 to 0.29 euros for 2019, which also came up higher what analysts had estimated.

Nokia fourth quarter profit was 193 million euros ($220.2 million) against a year ago loss of 386 million ($440.4 million) in the same quarter, driven by higher gross profits and lower expenses related to income tax.

On per share basis, the company earned a profit of 0.03 euro (4 cents) per share against the loss of 0.07 euro a year ago.

For full-year 2018, Nokia, reported loss of 340 million euros ($388 million) or per share loss of 0.10 euro (11 cents), which saw loss of 1.494 billion euros ($1.705 billion) or per share loss of 0.26 euro (30 cents) a year earlier.

Net sales for the fourth quarter grew by 3.3 percent year-over-year to 6.869 billion euros ($7.837 billion) largely because of the strong demands for 5G roll outs in all major markets across the globe. For full-year 2018, however, net sales dropped by 2.5 percent year-over-year to 22.563 billion euros ($25.743 billion).

As demand of 4G network declined in the middle of the decade, it affected the performances of the network industry’s dominating players, Nokia, Ericsson and Huawei, but for 5G roll outs, the demand for network equipments will definitely be rising from this year onward and that will be reflecting as upward trends in equipment makers results.

Nokia’s Network Business for the year came up increasing sales in Americas and Asia Pacific while that saw decline in markets of China, Middle East and Africa.

Pamela Wilson

Written by Pamela Wilson

Pamela Wilson:- Healthcare
I am Pamela Wilson and I focus on breaking news stories and ensuring we (“News Stories World”) offer timely reporting on some of the most recent stories released through market wires about “Healthcare”. I have formerly spent over 7 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for newsstoriesworld.com specializing in quicker moving active shares with a short term view on investment opportunities and trends.

Netflix is competing with and losing more consumer time to Fortnite than HBO

LG’s fourth quarter profit dropped by 80 percent as per guidance