QTUM - Despite Revenue Dip Nokia's Q1 Net Profit and Technology Patents Fuel Growth | Benzinga
Nokia Corp (NYSE:NOK) reported a fiscal first-quarter 2024 net sales decline of 20% year-on-year (19% in constant currency) to €4.67 billion ($5.07 billion), missing the consensus of $5.10 billion. Comparable EPS was $0.10 (€0.09) versus the consensus of $0.06.
The reported net profit is €438 million, up from €289 million a year ago. Comparable net profit was €501 million, up from €342 million a year earlier.
Network Infrastructure sales declined by 26% year over year in CC due to the weak demand environment. Cloud and Network Services sales decreased by 13% year over year in CC. Nokia Tech sales climbed by 216% year over year, driven mainly by signing patent license agreements with OPPO, Vivo, ...