Nokia Sees Network Slump’s End in Sight, Relieving Investors
- Stock jumps as company sees earnings improving after 2018
- Patent revenue helps to offset networks pressure, analyst says
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Nokia Oyj said the end of a network slump is in sight, forecasting a pick-up in demand from wireless carriers a year out.
The stock jumped the most in more than two years after Nokia told investors that profit will start to exceed expectations in 2020. That forecast overshadowed a warning that earnings this year will be lower than analysts estimated as Nokia invests in new 5G network technology ahead of expected orders from phone operators.