Nokia Stock Jumps On Strong Earnings Report - InformationWeek

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1/10/2013
09:27 AM
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Nokia Stock Jumps On Strong Earnings Report

Strong sales of the company's Windows Phone-based Lumia products and effective cost-cutting measures result in a small operating profit for their mobile phone unit.

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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