Shares of Nokia Corporation (ADR)(NYSE:NOK) extended
its weeklong rally in Thursday’s pre-market session as the company’s long
awaited third quarter results are out.
The struggling finished phone maker said that it lost
7 euros in the latest quarter and sales slid to EUR7.20 billion from EUR 7.50
in the previous quarter. On a per share basis, reported loss was 0.26 euros
compared to a loss of 0.02 euros in the same quarter last year.
Will
NOK Hit $5 This Year? Find Out Here
“Lumia Q3 volumes decreased quarter-on-quarter to
2.9 million units, as we shared the exciting innovation ahead with our new line
of Lumia products.”
Mobile Phones Q3 volumes increased
quarter-on-quarter to 77 million units; strong sales start for new Asha full touch
smartphones, with volumes of 6.5 million units. Analysts were projecting Nokia
to sell 8 million smartphones in the quarter.
Nokia expects its non-IFRS Devices & Services
operating margin in the fourth quarter 2012 to be approximately negative 6%,
plus or minus four percentage points.
NSN swings to an operating profit of €182M from a
loss of €227M in Q2. Nokia says that "competitive industry dynamics"
continue to hurt its mobile phones ops, and it won't benefit as much as usual
from the holiday season, but it is experiencing "consumer demand,
particularly related to...Lumia."
Shares of NOK jumped 5% in the pre-open session to
$3.09.
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