Nokia Corporation (NOK), based in Finland, currently has telecommunications as its core business. Consequently, Nokia has divested all of its non-telecommunication ventures. Following the divesture of the company’s handset business, Nokia Solutions and Networks is the company’s primary business division.
Nokia has a healthy track record with respect to earnings. The company has delivered positive earnings surprises in each of the last four quarters, with an average beat of 46.28%.
Zacks Rank: Currently, Nokia has a Zacks Rank #2 (Buy) but that could change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Nokia reported earnings of $0.11, marginally short of the Zacks Consensus Estimate of $0.12 per share. Earnings grew approximately 10% on a year-over-year basis.
Revenue: Revenues grew 9% year-over-year to 3.8 billion euros (approximately $4.7 billion). Quarterly revenues were higher than the Zacks Consensus Estimate of $4.5 billion. Strong sales in the North American market boosted revenues. Growth was witnessed across all the three divisions of the company.
Key Stats: The company’s board of directors will propose a dividend of approximately $0.19 per share for 2014
Stock Price: Shares of the company were down 2.41% in pre-market trading at the time of writing.
Check back later for our full write up on this Nokia earnings report later!
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