Nokia Q3: Earnings Miss, CEO Cites Telecom Weakness And Anticipates India Demand Rebound
Portfolio Pulse from Anusuya Lahiri
Nokia reported a Q3 earnings miss with an 8% decline in net sales, primarily due to weakness in the Indian market. Despite this, Nokia's net income increased, and the company expects growth in Q4, particularly in Network Infrastructure. Nokia's stock fell 5.16% premarket.
October 17, 2024 | 11:51 am
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NEGATIVE IMPACT
Nokia's Q3 earnings missed expectations with an 8% decline in net sales, leading to a 5.16% drop in stock price premarket. The company anticipates a rebound in Q4, especially in Network Infrastructure.
Nokia's earnings miss and sales decline led to a negative market reaction, causing a 5.16% drop in stock price. The CEO's positive outlook for Q4 may mitigate some negative sentiment, but the immediate impact is negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Nokia's market share in North America declined after losing contracts with AT&T, impacting its growth prospects in the region.
While Nokia's loss of contracts with AT&T is mentioned, the direct impact on AT&T's stock is not clear from the article, leading to a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
Nokia's market share in North America declined after losing contracts with Verizon, impacting its growth prospects in the region.
While Nokia's loss of contracts with Verizon is mentioned, the direct impact on Verizon's stock is not clear from the article, leading to a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30