Nokia Stock Jumps On Strong Earnings Report
By Larry Seltzer
InformationWeek
A strong earnings report from Nokia has triggered a surge in the company's stock this morning, according to a Bloomberg report.
The company had predicted an operating loss of as much as 10% of sales, but now reports earnings of break-even to as much as 2%. The numbers result both from strong cost-cutting moves by the company, which eliminated more than 20,000 jobs and closed production and research sites, and strong sales of the company's Windows Phone-based Lumia phones.
Bloomberg quotes Robert Jakobsen, a Jyske Bank A/S analyst in Silkeborg, Denmark, as saying "this clearly shows Nokia is making good progress with consumers..."
Click here for the full Bloomberg story.
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