Helsinki: Finnish telecoms equipment maker Nokia published better-than-expected fourth-quarter results, but revised downward its forecast for its networks business in early 2019.
Nokia reported on Thursday a profit of 193 million euros ($221 million) for October-December last year, marking a strong end to an otherwise challenging year, and a notable improvement on the same quarter a year earlier, when the firm posted a loss of 386 million euros.
Its adjusted operating profit for the quarter was 1.12 billion euros, an increase of 12 per cent on the previous year and surpassing analysts’ predictions of 1.0 billion euros.
“We saw the second consecutive quarter of year-on-year sales growth across all five of our Networks business groups, as well as improved profitability in both Networks and Nokia Technologies,” Nokia chief executive Rajeev Suri said in a statement.
Nokia’s outlook for 2020 remains “clearly positive”, the firm said, due to strong market conditions driven by the growth of 5G. — AFP
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