Nokia Posts Weak Q2 Sales

Nokia

reported a loss in the second quarter. Nokia posted a quarterly loss of 227 million euros, or 0.06 euros per share, versus a year-ago loss of 1.41 billion euros, or 0.38 euros per share, in the year-earlier quarter. On an adjusted basis, the company posted a profit of 7 million euros, or 0 euros a share, versus a year-ago loss of 313 million euros. Its sales fell to 5.7 billion euros from 7.54 billion euros. However, analysts were estimating a loss of 0.03 euros per share on sales of 6.34 billion euros. Its sales of its Lumia phone surged 32% quarter-on-quarter to 7.4 million units. Nokia shares fell 3.71% to $3.89 in pre-market trading.