Nokia Q2 Profit Climbs; Lifts FY Outlook - Quick Facts

Nokia Corp. (NOK) reported that its second-quarter profit for the second-quarter climbed to 351 million euros or 0.06 euros per share from 99 million euros or 0.02 euros per share last year, reflecting broad improvements, particularly in Mobile Networks, which benefitted from a one-time software deal and 5G growth.

Comparable earnings per share grew to 0.09 euros from 0.06 euros in the previous year.

Net sales for the second-quarter rose to 5.31 billion euros from 5.09 billion euros last year.

Constant currency net sales were up 9% year-on-year, driven by growth across all business groups, with particular strength in Network Infrastructure.

The company raised its fiscal year 2021 net sales outlook to a range of 21.7 billion euros - 22.7 billion euros from the prior outlook of 20.6 billion euros - 21.8 billion euros.

The company now expects a comparable operating margin to be between 10%-12% for full year 2021, compared to previous range of 7%-10%.

The company still expects typical quarterly earnings seasonality to be less pronounced in 2021.

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