Although phone prices fell volume sales were up and profit margins improved thanks to tight cost controls analysts said. As a result the company said on Thursday its earnings per share for the three months rose to . euros in the same period of . Analysts polled by Reuters had forecast earnings in a range of . Nokia s phone business is a well oiled machine. Shares in Nokia were percent higher at . EDT when the DJ Stoxx European technology sector index was up . But at the same time the operating profit margin for the key mobile phones division rose to . percent well ahead of analysts average forecast of . Division sales were up percent at . billion euros just short of the average forecast of . Nokia s profitability is very strong. Overall Nokia s group global sales rose percent to . billion below the average of analysts forecasts of . But Nokia s shares were barely affected on Tuesday whereas Ericsson s stock fell percent to . The shares were down . pe! rcent on Thursday at . Excluding restructuring and accounting charges the unit was in the black in the quarter. Nokia repeated it expects to see very slight growth in infrastructure market this year. This shows even more that Ericsson s problems are company specific. Ask the Experts at Countrywide . Read today s column Personal Finance Get advice on how to manage the outcome of your income. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.
Source: http://news.yahoo.com/s/nm/20071018/bs_nm/nokia_dc_3
Thursday, October 18, 2007
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