Nokia 4Q profit beats expectations on back of robust demand
Wireless and fixed-network equipment maker Nokia is reporting strong fourth-quarter results on the back of robust demand for 5G technology and an improved product portfolio
By JARI TANNER
Published - Jan 26, 2023, 07:21 AM ET
Last Updated - Jun 23, 2023, 12:47 AM EDT
HELSINKI (AP) — Wireless and fixed-network equipment maker Nokia on Thursday reported strong fourth-quarter results on the back of robust demand for 5G technology and an improved product portfolio.
The Espoo, Finland-based company reported net profit of 929 million euros ($1 billion) for the October-December period, up 27% from 731 million euros a year earlier.
Net income attributable to shareholders was 931 million euros, up from 727 million euros the previous year.
Nokia’s sales were up 16% at 7.4 billion euros. The company's performance during the quarter exceeded analyst expectations.
