Nokia misses Q2 expectations, lowers full-year guidance


STOCKHOLM (Reuters) – Finnish telecom gear group Nokia reported on Friday second-quarter sales of 5.7 billion euros ($6.4 billion), a comparable operating profit margin of 11%, and lowered its full-year outlook.

Analysts polled by Refinitiv had estimated sales of 6.0 billion on average.

Nokia said it now saw 2023 sales of 23.2-24.6 billion euros ($26.1-$27.6 billion) against 24.6-26.2 billion previously. It narrowed its comparable operating margin range outlook to 11.5-13% from 11.5-14% previously.

“The changes are related to Nokia’s Network Infrastructure and Mobile Networks business groups,” it said.

Nokia is scheduled to publish its full second-quarter earnings report on July 20.

Shares in Nokia closed down 9.4% on Friday.

($1 = 0.8906 euros)

(Reporting by Anna Ringstrom, editing by Louise Rasmussen and Matt Scuffham)

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