Nokia Net Beats Analysts’ Estimate, Shares Rise

Nokia Oyj, the world’s biggest maker of mobile phones, posted third-quarter profit that beat analysts’ estimates as it sold more smartphones, boosting shares. The company said it plans to cut 1,800 jobs globally.

In the first results since the Finnish company named Stephen Elop chief executive officer last month, Nokia reported net income of 529 million euros ($740 million), or 14 cents a share, from a loss of 559 million euros, or 15 cents, a year earlier. Analysts had predicted profit of 182.5 million euros. Sales rose 5 percent to 10.3 billion euros.