Nokia Power Up? Bets On Network Boom And Share Buyback After Rocky 2023
Portfolio Pulse from Ananya Gairola
Nokia Corporation (NYSE:NOK) anticipates growth in its network infrastructure business in H2 2023, alongside a €600 million share buyback over two years. Despite a challenging 2023 with lower net income and revenue, and ongoing patent litigation, Nokia forecasts a 2024 adjusted operating profit of €2.3-2.9 billion. CEO Pekka Lundmark acknowledges the tough environment may continue into early 2024. Nokia recently settled a patent dispute with Oppo and is close to resolving another. However, shares have fallen 25% over the past year.

January 25, 2024 | 12:09 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Nokia Corporation expects network business growth and has announced a €600 million share buyback, despite a challenging 2023 with decreased net income and revenue. The company forecasts a 2024 adjusted operating profit of €2.3-2.9 billion and is resolving patent disputes.
The announcement of a share buyback program and a positive profit forecast for 2024 could instill investor confidence and potentially lead to a short-term increase in Nokia's stock price. However, the recent 25% decline in share value and ongoing challenges may temper the immediate impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100