Nokia Oyj reiterated its full-year growth outlook for 2023 as it said demand for 5G in key regions like India will help it outperform the market.
(Bloomberg) — Nokia Oyj reiterated its full-year growth outlook for 2023 as it said demand for 5G in key regions like India will help it outperform the market.
Third-quarter sales rose 6% in constant currency to €6.24 billion, the Finnish maker of mobile networks said in a statement Thursday. That compared to the €6.03 billion analyst outlook, according to the average of estimates in a Bloomberg survey.
Sales growth was driven by demand for its mobile networking and network infrastructure, while sales declined at Nokia Technologies, which has been impacted by expired licenses.
Nokia reported operating profit of €658 million, missing analysts’ average €702.6 million estimate, according to a Bloomberg survey.
Nokia shares have declined 15% this year through Wednesday.
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