Home Home

Nokia Q1 2008 Earnings Report: Ouch

April 17, 2008 in Wireless Industry News

It’s tough to be #1. Nokia reported its earnings for the first quarter today, and the end result wasn’t pretty.

Nokia's Q1 2008 Earnings

Nokia’s Q1 2008 earnings blew up, and not in a good way.

The big number that Nokia missed was 42 – percent, that is, or the analyst estimate for the profit increase from last year. In the first quarter, Nokia managed to hit only 25 percent.

The big number was 25 – percent that is, Nokia’s increase in profit from last year. Unfortunately, analysts were looking for something in the realm of 42 percent.

There were two other gotcha’s in the earnings report. The first was the USA, where sales fell 46 percent to a mere 2.5 million phones. And the second was the “downbeat” estimates given by Nokia for the rest of the year – according to the company, the decline of the dollar would cause the mobile phone market to lose value even with its expected 10% growth rate.

Global market share also dropped to 39% – which was 3% higher than a year ago, but still one percent less than the previous quarter’s results.

But it wasn’t all bad – Nokia did manage to sell 115 million cell phones, to the tune of $1.9 billion dollars in profit.

At the end of the day, shares of Nokia’s stock fell over 14% to finish at 28.95.

***

Got Something To Say?


nokia phone blog: version 5

Subscribe!The Nokia Phone Blog is about mobile phones, MeeGo, S60, the wireless industry, and now Windows Phone.
Subscribe here.  RSS, Atom
Email me at cary (at) nokiaphoneblog.com.

The Blog

28

Featured


142

Mobile Phone Software


152

Nokia Phone Accessories


134

Nokia Phone Deals


303

Nokia Phone News


122

Nokia Phone Previews


50

Nokia Phone Reviews


21

Nokia Phone Tips and Tricks


63

Nokia Randomness


20

Other Mobile Phones


351

Wireless Industry News


Current Phone Prices, Courtesy of PhoneMatchUp!

PhoneMatchup Sony Xperia TX: $516.77
Samsung Galaxy Note II N7100: $639.00
HTC J: $598.88
Sony Xperia SL: $388.85
Nokia Lumia 900: $419.98

More Sites By Me

randomlygifted

angbox


My personal blog.
 
PhoneMatchup

PhoneMatchup


An eBay cell phone comparison shopping/price monitoring project. Buy your next cell phone through PhoneMatchup and save!
 
randomlygifted

randomlygifted


Let randomlygifted find you the perfect (random) gift ideas.
 
MyDealSpy

MyDealSpy


The greatest deal aggregator that has ever existed. Okay, I'm a little biased here.