Nokia exceeds analysts expectations
Nokia has been on a major roll for a few years now. With the report of their most recent financial results, it’s clear that the roll isn’t ending just yet. Their earnings and results both exceeded analysts expectations. Perhaps most impressive is that Nokia’s market share grew despite very strong sales results by their rivals, especially Motorola. Their market share is now 35%. They sold 75.1 million handsets, a jump of 40% over the previous year. Their revenue was $11.7 billion on the quarter, up from $9.1 billion the previous year. That beat the forecast of all 17 analysts polled by Reuters. Predictably, stocks were up sharply on the news, continuing an upward trend that has seen the stock gain more than 20% already this year.
If you want to find a fault, the average selling price of their handsets was $127. That was the highest level in three quarters, but it is down from the $136 average price of the same quarter last year.