Nokia Registers 11% Revenue Growth In Q2; Shares Pop

  • Nokia Corp NOK reported a second-quarter FY22 net sales growth of 11% year-on-year (3% in constant currency) to €5.87 billion.
  • Network Infrastructure sales grew 12% Y/Y in CC with growth across all four businesses.
  • Cloud and Network Services posted flat Y/Y growth in CC, while Nokia Tech declined 25% Y/Y, affected by expired licenses.
  • Mobile Networks returned to growth with an increase of 1% Y/Y in CC amid supply chain constraints. 
  • Margins: The gross margin contracted by 80 bps to 40.2%. Comparable margin contracted 170 bps to 40.6% due to lower net sales in Nokia Tech.
  • The operating margin expanded 50 bps to 9.6%. The comparable margin contracted 60 bps to 12.2%.
  • EPS was €0.08, and comparable EPS was €0.10.
  • Nokia held €5.5 billion in cash and equivalents and used €0.1 billion in free cash flow.
  • Dividend: The board proposed a dividend of €0.02 per share. 
  • Outlook: Nokia reiterated FY22 net sales guidance of €23.5 billion - €24.7 billion (constant currency unchanged, adjusted for currency). 
  • Price Action: NOK shares traded higher by 7.02% at $5.03 in the premarket on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksGuidanceDividendsMoversTechTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!