Nokia Q2 Highlights; 3% Topline Decline, Apple Partnership And Strong Enterprise Performance
Portfolio Pulse from Anusuya Lahiri
Nokia Corp reported a 3% decline in Q2 FY23 net sales to $6.22 billion, missing the consensus of $6.38 billion. The company's Network Infrastructure sales declined by 6% while Cloud and Network Services sales increased by 2%. Mobile Networks sales grew by 5% due to 5G deployments in India. The company's gross margin and operating margin also declined. Nokia signed a long-term patent license agreement with Apple Inc and saw a 27% increase in Enterprise net sales. The company's shares traded lower by 0.25% premarket.
July 20, 2023 | 11:33 am
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Nokia's Q2 FY23 net sales declined by 3% to $6.22 billion, missing the consensus. The company's shares traded lower by 0.25% premarket.
Nokia's Q2 FY23 net sales declined by 3% and missed the consensus, which could negatively impact investor sentiment and lead to a decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Apple Inc signed a long-term patent license agreement with Nokia.
Apple's signing of a long-term patent license agreement with Nokia is a positive development, but it's unclear how much this will impact Apple's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50