The operating profit improved from €552 million in Q4 2018 to €803 million. "There are small steps towards a better future," Inderes analyst Mikael Rautanen said in a research note.The results sent its shares up 7% in early trade, to the highest level since the October warning, and they were up 3.4% at 1009 GMT.Like us on Facebook to see similar storiesThe board would not propose a dividend for 2019 as it only expected to reach the 2 billion euro cash position it sees sufficient for profit distribution during the fourth quarter.In India, it said customer demand could weaken after the country's Supreme Court upheld a ruling that telecoms companies must pay retroactive license and spectrum fees.Analysts were expecting a dividend of 0.11 euros, according to a Refinitiv poll.Nokia Chief Executive Rajeev Suri told journalists the fourth quarter had marked "a strong end to a challenging year".Its warning in October was partly caused by investments in its 5G system-on-chip (SoC) development, which allows a single chip to carry an entire computer system and enables Nokia to produce its network technology more cheaply.Sales in the Greater China region dropped by 25% in the fourth quarter to 469 million euros. Nokia smartphone licensee HMD Global was not mentioned in the results.Enter your email address to subscribe to Nokiamob and receive notifications of new posts by email. Nokia's surprise profit rise fails to salvage 2019 dividend For the full year of 2019, Nokia posted €23.315 billion in revenue, which is a growth of 3% compared to 2018.
Nokia’s adjusted earnings per share for 2019 are now forecast at 0.18 euros to 0.24 euros, down from a range of 0.25 euros to 0.29 euros. The operating profit improved from €552 million in Q4 2018 to €803 million. A Q4 2019 midpoint is estimated to be €0.135. Please give an overall site rating:Suri told Reuters the company aimed to focus on its most profitable operations in China and make only prudent offers for large 5G radio network deals that are expected to become available.Suri said that by the end of 2019 10% of Nokia's 5G offering was using system-on-chip, and that rate would increase to over 35% during 2020 and to 70% in 2021.Nokia also repeated its forecast for 2020 underlying earnings per share of between 0.20 and 0.30 euros, compared to 0.22 euros in 2019. Nokia posted a profit of €18 million in 2019, compared to a €549 million loss in 2018.In Q3 2019 results, Nokia announced that the company will stop dividend payout until Nokia’s cash position increases to €2 billion, which might not come before Q4 of 2020 according to Nokia’s outlook. For the full year of 2019, Nokia posted €23.315 billion in revenue, which is a growth of 3% compared to 2018. Nokia also added a fact sheet and made a short video about the results that can be shared via social media.The stock market in Helsinki reacted positively on Nokia’s report.The results are better than analysts expected.
Nokia’s revenue for Q4 2019 was €6.903 billion, with Nokia Networks being the only division posting year-on-year growth in revenue.
ESPOO (dpa-AFX) - Nokia Corp. (NOK) reported a profit for the third-quarter compared to a loss in the prior year, primarily driven by continued progress related to cost savings program and a Nokia posted an adjusted earnings per share of EUR 0.15, compared to expectations of EUR 0.13.Nokia’s revenue for Q4 2019 was €6.903 billion, with Nokia Networks being the only division posting year-on-year growth in revenue.
Finland's Nokia slashed its 2019 and 2020 profit outlook on Thursday, saying profits would come under pressure as the company spends more to fend off rivals in the fast-growing 5G networks business.