Nokia rose nearly 16% in premarket trading, and its net sales in the first quarter exceeded market expectations.
Nokia EPS beats by $0.06, beats on revenue
Nokia(NYSE:NOK): Q1 Non-GAAP EPS of €0.07beats by €0.06; GAAP EPS of €0.05.
Revenue of €5.08B (+3.5% Y/Y)beats by €360M.
Adjusted gross margin 38.2%, estimate 37.1%
Adjusted operating margin 10.9%, estimate 2.18%
2021 Outlook: Net Sales: 20.6B - 21.8B
Adjusted operating margin: 7 - 10%
FCF: Nokia expects the FCF performance of Nokia Technologies to be ~€600M lower than its operating profit, primarily due to prepayments we received from certain licensees.
2023 Outlook: Net Sales: Grow faster than the market.
Adjusted operating margin: 10 - 13%