Reuters reported today that Nokia's third-quarter earnings will fall significantly below the €0.40 of the year-earlier quarter. The drop is attributed to worldwide economic weakness.
The average estimate of the analysts polled by Reuters is €0.32. Nearly a month ago, the GCFR look-ahead projected earnings of only €0.25 for Nokia in the September quarter. We were either ahead of the curve, too pessimistic, or both.
Nokia is expected to announce its results on 16 October.
Nokia Corp. (NYSE: NOK), headquartered in Espoo, Finland, is a global producer of mobile phones and the supporting network infrastructure. Nokia's product portfolio ranges from low-end phones with tight profit margins to more capable and expensive devices that satisfy consumer preferences for stylish designs and new technical features.
08 October 2008
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