Nokia reports EPS in-line, beats on revs:
- Reports Q1 (Mar) earnings of 0.03 per share, in-line with the Capital IQ Consensus of 0.03; revenues fell 3.8% year/year to 5.39 bln vs the 5.33 bln Capital IQ Consensus.
- Nokia's Networks business: 6% year-on-year net sales decrease in Q1 2017 primarily due to IP/Optical Networks and Fixed Networks, with approximately flat net sales in Mobile Networks and Applications & Analytics.
- Nokia Technologies: 25% year-on-year net sales increase in Q1 2017, primarily due to higher patent and brand licensing income and the acquisition of Withings, partially offset by the absence of licensing income related to certain expired agreements.
- Outlook
- Nokia - Approximately EUR 1.2 billion of total annual cost savings to be achieved in full year 2018
- Nokia's Networks - Net sales Decline in line with the primary addressable market in full year 2017
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