Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Curbstone who wrote (121736)	7/18/2002 7:01:06 AM
From: Jon Koplik	Read Replies (1) \| Respond to of 152472

WSJ story on Nokia earnings. Nokia Posts 46% Jump in Profit, Boosted by Core Cellphone Unit DOW JONES NEWSWIRES STOCKHOLM -- Nokia Corp. reported a 46% increase in second-quarter net profit Thursday, boosted by the performance of its core mobile-phone unit. The world's largest manufacturer of mobile phones said its net profit rose to €862 million ($862 million) from €589 million in the second quarter of 2001. Nokia's profit grew despite a 6% decrease in sales to €6.935 billion from €7.346 billion a year ago. The revenue total was at the bottom end of the company's revised guidance and below the consensus forecast of €7.05 billion in a Dow Jones Newswires survey. The Finnish company said it expects third-quarter sales to increase between 3% and 9% to between €7.2 billion to €7.6 billion from last year's total of €7 billion. It said sales for the second half of the year should be between 3% and 10% above last year's total. It had previously forecast second-half sales growth of up to 10%. For the third quarter, it said it expects pro-forma earnings per share of 15 cents to 17 cents, with full-year earnings in the range of 79 cents to 84 cents. It said last month that it was comfortable with a forecast of 83 cents for the year. On a pro-forma basis, excluding goodwill amortization and charges the company describes as nonrecurring, the company earned 19 European cents a share, ahead of the consensus forecast for 18 cents a share in the quarter. In June, Nokia reduced its sales forecast for the second half of 2002 and said there is no sign yet of a real upturn in the telecommunications-equipment market. Nokia shares declined 1.7% to €14.12 in morning trading in Helsinki. Updated July 18, 2002 6:09 a.m. EDT Copyright © 2002 Dow Jones & Company, Inc. All Rights Reserved