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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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
NEGATIVE IMPACT
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