Business

Nokia lifts outlook as Q2 profit beats forecast

Telecom equipment maker Nokia reported a stronger-than-expected second-quarter operating profit on Thursday and raised its full-year outlook as promised, thanks to a turnaround of its business.

FILE PHOTO: Workers protest over job cuts at Nokia in France
FILE PHOTO: The logo of Nokia is seen at the Nokia Paris-Saclay campus in Nozay, near Paris, France, June 30, 2020. REUTERS/Benoit Tessier

Bookmark

HELSINKI: Telecom equipment maker Nokia reported a stronger-than-expected second-quarter operating profit on Thursday and raised its full-year outlook as promised, thanks to a turnaround of its business.

The Finnish company's April-June comparable operating profit rose to 682 million euros (US$808.51 million) from 423 million euros a year earlier, beating the 408-million euro mean estimate in a Refinitiv poll of analysts.

(US$1 = 0.8435 euros)

(Reporting by Essi Lehto; editing by Terje Solsvik and Sriraj Kaluvila)

Source: Reuters