Earnings Report: Nokia Q2 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…

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.

Press Release

This entry was posted on Thursday, July 17th, 2008 at 10:05 pm and is filed under Wireless Industry News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.