Earnings Report: Nokia Q2 2008
July 17, 2008
After a lackluster Q1 report, Nokia’s second quarter earnings wowed investors, who boosted shares of the company’s stock by 8% today.
How good were the earnings? Good enough that Nokia actually increased sales for the USA by 10%, something we haven’t seen in a long, long time…
Nokia’s Q2 2008 earnings wowed investors.
Major points:
- Profit of $1.75 billion or 46 cent a share. Compare to the same time last year, where profit was $4.49 billion, or $1.14 a share. Note that last year’s results were affected by a gain through Nokia Siemens Networks.
- Global market share increased to 40%, from 38%. Expected to remain flat through Q3.
- Average selling price for Nokia phones fell to $117 (from $125), mainly due to a weak dollar and sales of emerging market phones.
- Forecast for the rest of the year: better than expected, 10% or better cell phone sales growth vs. just 10%.
- Regions with the largest sales growth: Asia-Pacific, Latin America, Middle East/Africa.
All in all, it was a good run.
