Nokia Corporation NOK Earning News

Nokia +7.8% on improving equipment sales,Personalized Bobbleheads 95,Personalized Bobbleheads, margin outlook hikeNokia’s (NYSE:NOK) telecom equipment unit (Nokia Networks) saw its revenue drop 8% Y/Y in Q2 to (87% of all revenue from continuing ops). But that was an improvement from the 17% drop seen in Q1. Its services revenue declined 19% to after falling 25% in Q1. margin fell 80 bps to 11%. But Nokia now expects Networks’ 2014 op. margin to be “at or slightly above the high end” of a long term target range of 5% 10%. Nokia ended Q2 with in net cash. Support Solutions +21% to SEK2.8B ($410M) vs. Op. margin jumped 280 bps Y/Y to 7.3%. The firm also said that excluding the operations sold to Microsoft,Personalized Bobbleheads 35, it swung to a net profit of from a loss of a year earlier. Sales tumbled 15% to and missed consensus of Revenue at the network unit dropped 17% to hurt by lower services sales,bobbleheads, currency fluctuations and divestments. (PR) Suri will replace Nokia Chairman Risto Siilasmaa,Custom bobbleheads 85,Custom bobbleheads, who has served as interim CEO since the announcement of the Microsoft deal in September. As head of Nokia Solutions Networks, Suri is credited with returning it to profitability. Nokia intends to pay dividends of comprised of at least in ordinary dividends for 2013 and 2014 of a share and possibly more for this year, and a special dividend of a share. The company intends to repurchase in shares over two years as well. Nokia will cut interest bearing debt by by 2016 as part of a plan to get back its investment grade credit rating. The plan should save a year in interest. (PR)Nokia dives as investors worry about NSN; Alcatel, Ericsson also offThe reaction to Nokia’s (NOK 9.4%) Q4 report is very different from the one that followed its Q3 report, as investors worry about a 22% Y/Y drop in NSN sales (follows a 26% drop in Q3) and a 320 bps Y/Y drop in the division’s op. margin to 11.2%. Ericsson reports on Jan. 30, and Alcatel on Feb. Adjusted operating profit fell to from a year earlier. Expects NSN operating margins of 1 9% in Q1 vs forecast of 7.6% by Nordea analyst Sami Sarkamies and 11.2% in Q4. FY profit margin will be “toward the higher end” of a 5 10% profit range. Ends the quarter with in gross cash. Sales at the devices business, which is being sold to Microsoft (MSFT), are ($3.56B), 29% on year and 4.5% on quarter. (PR)Previous