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Nokia shares slump on weaker-than-expected margin view
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(FILES) This file photo taken on March 2, 2020 shows the logo of telecommunications giant Nokia in Espoo, Finland.
markku ulander/Agence France-Presse/Getty Images
Shares of Nokia
NOKIA,
NOK,
slumped 13% in Helsinki after the telecom equipment maker lowered its 2020 guidance and introduced 2021 margin guidance below market expectations.
Nokia said its third-quarter profit more than doubled to 203 million euros, while sales fell 7% to 5.29 billion euros. On an adjusted basis, Nokia’s earnings per share was steady at 5 eurocents.
Nokia also announced a new corporate structure.
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