Nokia (NOK) reported earnings Thur 4 Aug 2016 (b/o)

** charts after earnings **

 

 Nokia reports EPS in-line, misses on revs :

• Reports Q2 (Jun) earnings of 0.03 per share, in-line with the Capital IQ Consensus of 0.03; revenues rose 91.3% year/year to 5.58 bln vs the 5.79 bln Capital IQ Consensus.
  • Nokia net sales increased 91% year-on-year, compared to Nokia standalone net sales, and increased 2% sequentially. On a constant currency basis, Nokia net sales would have increased 93% year-on-year, compared to Nokia standalone net sales, and 2% sequentially
  • Year-on-year discussion - The year-on-year increase in Nokia net sales in the second quarter 2016, compared to Nokia standalone net sales, was primarily due to growth in Nokia's Networks business and Group Common and Other, primarily related to the acquisition of Alcatel-Lucent, partially offset by non-IFRS exclusions.
• Outlook - Co supplied the following guidance
  • FY16 Capital expenditures ~EUR 650 million Primarily attributable Nokia's Networks business.
  • Nokia's Networks business FY16 net sales Decline YoY