Nokia News: 13 Things Sending NOK Stock Lower Today

Nokia (NYSE:NOK) news for Thursday concerning its earnings report and change for its business has NOK stock falling hard.

a backdrop featuring the Nokia (NOK) logo with a mobile phone featuring the Nokia logo on its screen in the foreground
Source: rafapress /

Let’s take a look at what news is hammering Nokia stock today.

  • The company’s earnings report for the third quarter of 2020 wasn’t good for it.
  • That includes its adjusted earnings per share of 5 euros.
  • It’s also unchanged from the company’s adjusted EPS for the same period of the year prior.
  • NOK revenue of 5.29 billion euros also couldn’t reach analysts’ estimates of 5.38 billion euros for the quarter.
  • That represents a 7% decline from the company’s revenue of 5.69 billion euros in Q3 2019.
  • It’s also expecting adjusted per-share earnings 20 cents to 26 cents for the full year of 2020.
  • That has the midpoint matching Wall Street’s adjusted EPS estimate for the year.
  • A Nokia news release also reveals plans to change how its business operates.
  • This includes splitting its operations into four distinct divisions.
  • They are Mobile Networks, IP and Fixed Networks, Cloud and Network Services, and Nokia Technologies.
  • Nokia Technologies will see the least changes of these divisions as the company changes its business strategy.
  • The company says that these changes will go into effect on Jan. 1, 2021.
  • NOK says that it will be providing further details about its strategy change on Dec. 16 of this year.

NOK stock was down 19.5% as of Thursday morning and is down 16% since the start of the year.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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