Nokia Q1 Profit Down, Net Sales Rise; Backs FY22 Outlook - Quick Facts

Finnish communications company Nokia Corp. (NOK) reported Thursday that its first-quarter profit declined 17 percent to 219 million euros from last year's 263 million euros.

Earnings per share were 0.04 euro, down 20 percent from 0.05 euro a year ago.

Comparable profit was 416 million euros or 0.07 euro per share, compared to 375 million euros or 0.07 euro per share last year.

Net sales grew 5 percent to 5.35 billion euros from last year's 5.08 billion euros. Net sales grew 1 percent in constant currency.

Network Infrastructure grew 9 percent in constant currency, while Mobile Networks declined 4 percent in constant currency due to supply chain constraints while demand remains strong.

Nokia Technologies declined 17 percent in constant currency as licenses that expired in 2021 have not yet renewed.

Further, full year 2022 outlook is unchanged in constant currency, expecting sales of 22.9 billion euros to 24.1 billion euros.

Comparable operating margin is expected between 11 percent and 13.5 percent.

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