Nokia Beats Fourth-Quarter Estimates Amid ‘Robust’ Demand

Nokia Oyj reported better-than-expected earnings, saying demand “remains robust” even amid a weaker macro-economic backdrop with phone carriers set to take a more cautious approach to spending on 5G networks.

Adjusted operating profit rose 27% to €1.15 billion ($1.3 billion) for the fourth quarter, the Espoo, Finland-based mobile network company said in a statement on Thursday. That compares to an average analyst estimate of €946 million, according to a Bloomberg survey. Adjusted earnings per share came to 16 cents, more than estimated by analysts.