© Reuters. FILE PHOTO: New Nokia’s logo is displayed before GSMA’s 2023 ahead of the Mobile World Congress (MWC) in Barcelona, Spain February 26, 2023. REUTERS/ Albert Gea
STOCKHOLM (Reuters) – Finnish telecom gear group Nokia (NYSE:) reported on Friday second-quarter sales of 5.7 billion euros ($6.4 billion), a comparable operating profit margin of 11%, and lowered its full-year outlook.
Analysts polled by Refinitiv had estimated sales of 6.0 billion on average.
Nokia said it now saw 2023 sales of 23.2-24.6 billion euros ($26.1-$27.6 billion) against 24.6-26.2 billion previously. It narrowed its comparable operating margin range outlook to 11.5-13% from 11.5-14% previously.
“The changes are related to Nokia’s Network Infrastructure and Mobile Networks business groups,” it said.
Nokia is scheduled to publish its full second-quarter earnings report on July 20.
Shares in Nokia closed down 9.4% on Friday.
($1 = 0.8906 euros)
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