Nokia Sales Top Estimates as Network Slump Begins to Ease
- Company saw ‘renewed momentum in mobile networks,’ CEO says
- Revenue still declines as mobile carriers spend cautiously
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Nokia Oyj reported first-quarter sales that topped analysts’ estimates as a slump in wireless-network demand began to ease and the company reaped more revenue for its patents.
Revenue fell 4 percent to 5.39 billion euros ($5.9 billion), the Finnish network-equipment maker said Thursday. Analysts predicted 5.28 billion euros, the average of estimates compiled by Bloomberg. Earnings of 3 cents a share matched the average analyst prediction.