Nokia Corp. on Thursday posted a forecast-beating third-quarter internet revenue as demand for cellular networks and community infrastructure remained sturdy and supply-chain constraints eased.
Nokia
NOK,
-1.94%
NOKIA,
-5.53%
mentioned it nonetheless expects to ship internet gross sales development in cellular networks on a constant-currency foundation in 2022 after sturdy gross sales development in North America in the course of the quarter, whereas gross sales in Europe, Latin America and Larger China additionally grew.
Comparable internet revenue for the quarter rose to 550 million euros ($537.6 million) from EUR454 million a 12 months earlier as gross sales rose 16% to EUR6.24 billion, it mentioned.
Analysts polled by FactSet had anticipated comparable internet revenue of EUR510 million on gross sales of EUR6.05 billion.
On a reported foundation, Nokia posted a internet revenue of EUR427 million from EUR342 million a 12 months earlier.
Nokia lifted full-year gross sales steerage to between EUR23.9 billion and EUR25.1 billion from EUR23.5 billion and EUR24.7 billion, adjusted for foreign money. It nonetheless sees the full-year comparable working margin at 11%-13.5%.
“Whereas dangers round timing of excellent offers in Nokia Applied sciences stay, assuming these shut we proceed monitoring in the direction of the high-end of our internet gross sales steerage for 2022 and in the direction of the mid-point of our working margin steerage,” Chief Govt Pekka Lundmark mentioned.
Write to Dominic Chopping at dominic.chopping@wsj.com