STOCKHOLM-- Nokia Corp. gave a more bullish full-year financial
outlook on Thursday after swinging back to profit in the third
quarter partly because of a 13% rise in revenue as the Finnish
telecom-equipment supplier deployed high-speed mobile networks in
North America and China.
Nokia's reported net profit of EUR747 million compared with a
EUR91 million loss in the three months to end-September last year,
helped also by a large tax gain in the quarter.
Revenue rose to EUR3.32 billion, higher than market expectations
for EUR3.02 billion.
"Progress was widespread, with four of our six regions
increasing sales, " Nokia's Chief Executive Rajeev Suri said in a
statement.
Nokia updated its outlook for the year, saying it expects an
operating profit margin for the full year slightly above 11%,
having previously expected the margin at high single digits.
It repeated that it expects net sales for its main networks unit
to grow on a year-on-year basis in the second half of 2014.
While describing the performance for the company's main networks
business as "particularly satisfying," Mr. Suri cautioned that the
unit benefited from some "unique developments" in the quarter, such
as a favorable business and regional mix.
The Finnish company, which earlier this year transferred its
loss making handset business to Microsoft Corp., booked a EUR2
billion tax benefit in the quarter, which was partly offset by a
EUR1.2 billion goodwill impairment charge related to its HERE
digital mapping unit.
Write to Sven Grundberg at sven.grundberg@wsj.com
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