Nokia: profit up 22% in Q3

(CercleFinance.com) - Nokia reports a 22% LFL rise in net profit to E358m for Q3 2024, or E0.
06 per share, with operating profit up 9% to E454m, representing 1.6-point improvement in its margin, to 10.5%.

The Finnish network equipment supplier explains this improvement mainly as a result of the increase in gross margin, continued cost control and a benefit arising from the reversal of provisions for losses on certain customer receivables.

At E4.33bn, sales were down 8% (-7% at constant exchange rates), with growth in network infrastructure and at Nokia Technologies offset by a decline in mobile networks, mainly in India, and a divestment in cloud and network services.

For FY 2024, Nokia confirms that it expects comparable operating profit of between E2.3bn and E2.9bn, and free cash flow conversion from comparable operating profit of between 30% and 60%.


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