Nokia’s Q1 comparable operating profit grows less than expected

By Thomson Reuters Apr 18, 2024 | 12:09 AM

(Reuters) -Finnish telecom gear maker Nokia reported on Thursday a first-quarter comparable operating profit that missed market expectations, with net sales falling 19% as operators’ spending on 5G technology slows.

Nokia said its comparable operating profit excluding certain items of income and expenses grew to 597 million euros from a year-earlier 479 million. Four analysts polled by LSEG had on average forecast a comparable profit of 663 million euros.

The company kept its full-year outlook.

(Reporting by Olivier Sorgho in Gdansk; Editing by Anna Ringstrom)