The verdict is just in : NOK reporting $892 Euros; 40% rising not 17% as expected ( per Bloomberg )
Technology News
Thu, 19 Oct 2000, 2:11am EDT
Nokia Third-Quarter Profit Seen Rising 17% as Earnings Report Is
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By Jonas Dromberg
Espoo, Finland, Oct. 19 (Bloomberg) -- Nokia Oyj, the world's top cellular
phonemaker, is expected to report third-quarter profit rose 17 percent, slowing
from 64 percent growth in the second quarter, according to analysts polled by
Bloomberg.
Profit is expected to rise to 745 million euros ($626 million) from 638 million
euros a year earlier, analysts said. The company advanced its earnings report to
9 a.m. Helsinki time this morning, one week before its planned release date of
Oct. 26.
Nokia, which in July said third-quarter profit will fall from the previous quarter, has
seen its shares plummet 41 percent since then on fears sales growth is lagging
amid slower economic growth in Europe and the U.S. and as customers wait for
speedier Internet phones.
Nokia shares fell 2.19 euros, or 5.8 percent, to 35.81 euros yesterday. The
shares haven't yet traded today. |
