Nokia Q1 beats expectations on higher 5G gear demand

Nokia Q1 beats expectations on higher 5G gear demand
Reuters
3 hrs ago
© Reuters/LEHTIKUVA
Nokia to cut up to 10 000 jobs by 2023
STOCKHOLM (Reuters) - Finnish telecom network equipment maker Nokia on Thursday reported better-than-expected first-quarter revenue and profit, helped by a growth in sales of 5G equipment.
Quarterly revenue rose 3% to 5.08 billion euros ($6.16 billion), beating a consensus figure of 4.72 billion, Refinitiv data showed.
"We expect our typical quarterly earnings seasonality to be less pronounced in 2021," Chief Executive Pekka Lundmark said in a statement, adding that sales growth was strong across its network infrastructure business.
After taking over the top job last year, Lundmark has streamlined the company's operation, cut jobs, and made changes to recover from product missteps under the company's previous management that hurt its 5G ambitions and weighed on its shares.

Related Keywords

China ,Finland ,Stockholm ,Sweden ,Finnish ,Pekka Lundmark ,Niklas Pollard ,Supantha Mukherjee ,Nokia ,European Technology Telecoms Correspondent ,Ericsson ,Reuters ,Executive Pekka Lundmark ,European Technology ,Telecoms Correspondent ,சீனா ,பின்லாந்து ,ஸ்டாக்‌ஹோல்ம் ,ஸ்வீடந் ,பின்னிஷ் ,சுப்பந்த முகர்ஜி ,நோக்கியா ,ஐரோப்பிய தொழில்நுட்பம் தொலைத்தொடர்புகள் நிருபர் ,எரிக்சன் ,ராய்ட்டர்ஸ் ,ஐரோப்பிய தொழில்நுட்பம் ,தொலைத்தொடர்புகள் நிருபர் ,