Nokia Q2 operating profit of 474 million euros down 16% from the same period last year

CTOnews.com July 20 news, Finnish telecom equipment group Nokia is now releasing the second quarter and semi-annual report of 2023. It is said that comparable profits fell to 626 million euros (currently about 5.071 billion yuan) in the second quarter from 714 million euros last year as sales growth of 5G devices in markets such as India failed to offset the slowdown in demand in North America.

The company's second-quarter net sales were 5.71 billion euros (currently about 46.251 billion yuan), down 3 percent from a year earlier; operating profit was 474 million euros (currently about 3.839 billion yuan), with an estimated 482.7 million euros, down 16 percent from a year earlier; operating profit margin was 8.3 percent, down 130bp to 11.0 percent.

In addition, Nokia's second-quarter net income was 11.569 billion euros (CTOnews.com Note: currently about 93.709 billion yuan), up 3% from a year earlier, while operating profit was 900 million euros (currently about 7.29 billion yuan), down 2% from a year earlier.

At fixed exchange rates, net sales in the second quarter were flat year-on-year (reported to be-3%). At fixed exchange rates, net sales rose 27 per cent year-on-year (25 per cent reported).

"We are now seeing net sales in the second half of the year roughly comparable to those of network infrastructure and mobile networks in the first half, and there are some signs of continuous improvement in Q4," Nokia CEO Pecaran DeMarc said in a statement.

Nokia also lowered its sales outlook for 2023 to EUR 232-24.6 billion from EUR 246-26.2 billion and narrowed its forecast for comparable operating profit range from 11.5-14% to 11.5-13%.